There is an anticipation that this could be the most vital week in the Newcastle United takeover process.
A deal in the region of £300 million has been agreed between Mike Ashley and the potential new Newcastle owners. A part-payment of £17 million has been paid already, which is non-refundable, while the remaining part will be paid once they get the green signal from the Premier League.
The would-be new owners – Amanda Staveley’s consortium — comprising her company PCP Capital Partners (10 per cent), the billionaire Reuben brothers (10 per cent) and the 80 per cent majority stakeholding of Saudi Arabia’s Public Investment Fund (PIF) – are waiting for the Premier League to approve the deal.
Newcastle United fans are waiting eagerly to hear the official announcement, but according to George Caulkin, the highly-respected journalist from The Athletic, the Premier League may not say anything at all.
I don’t know if the PL will say anything or not.
— George Caulkin (@GeorgeCaulkin) May 11, 2020
He claims that there will be a deadline in the contract for the money to be paid once the Premier League gives their approval. And the potential owners are determined to maintain that deadline.
There will be a deadline in the contract for money to be paid once PL give approval. I’ve always been told they’ll use that deadline. I dunno – perhaps it’s because it has to come from three different parties. But I’m guessing there.
— George Caulkin (@GeorgeCaulkin) May 11, 2020
Caulkin adds that the would-be owners are expecting the Premier League to give the approval at some point this week. However, it can take a few days for the money to be transferred.
I don’t. The buyers expect the PL to give approval at some point this week (but that’s down to the PL) and then it can take a few days for the rest of the money to transfer.
— George Caulkin (@GeorgeCaulkin) May 11, 2020
I’ll rephrase. It could take a few days for them to transfer the money. In other words, they could use that time.
— George Caulkin (@GeorgeCaulkin) May 11, 2020
Meanwhile, it seems the potential Newcastle owners have already started planning for the transfer window, with the club targeting the likes of Odion Ighalo and Gareth Bale.
