Talk of the Saudi-backed takeover has resurfaced this week after Newcastle Consortium Supporters Ltd received a 9-page letter from Premier League on Tuesday. Contents of this letter, confirming Newcastle had taken legal action against the league, were leaked which prompted Newcastle to issue a statement yesterday.
Then a few articles emerged claiming that the Saudis were still very interested in resurrecting the takeover. The Athletic wrote the following in an article discussing Newcastle’s statement:
The Athletic understands that the Saudis remain as determined as ever to buy Newcastle, despite having officially withdrawn the bid in July.
The Telegraph are taking it a step further claiming that the consortium consisting of the Saudi PIF, Amanda Staveley’s PCP Capital Partners, and the Reuben Brothers will re-submit their bid if Mike Ashley is successful in his arbitration case against the EPL.
Ashley is arguing that the consortium should have passed the Premier League’s Owners and Directors Test. The Telegraph’s Jason Burt is reporting that if Ashley wins his case, the Saudis will come back to the table.
The Guardian has also done a report on these recent events. Louise Taylor is reporting that due to the consortium’s commitment to invest in the north-east, the UK Government remains hopeful that the takeover can be revived and successful.
This all hinges on the court case which the Premier League seems to be slow rolling at the moment. The case could be heard this year but that is looking more and more unlikely with each passing day.
There’s still a sliver of hope that this takeover can happen. Though, getting our hopes up once again is not an option. It’ll likely be a long process well into next year. Our main focus will continue to be supporting the players for a push into the top ten.