North East UK news Newcastle United takeover latest amid confident talk PremierLeague-News.Com
PremierLeague-News.Com - Newcastle United eyes will turn to the takeover when survival is assured later this month, and the deal is at a delicate stage
PremierLeague-News.Com - Breaking Sport Transfer News ! With safety almost assured during this strangest of seasons, Newcastle United fans will hope for some form of resolution to the longest running takeover saga. So much rests on a deal which has now bubbled in the background for more than a year. A brighter future with more investment is at stake if the takeover goes through - but that is less than assured. The alternative is almost certain to be Steve Bruce with a limited transfer budget and the hope that the club is able to improve on this year's struggle. You can follow the latest story about the deal here. But this is the definitive update on exactly where the long-running saga remains. What stage it is at The next stage of the saga is the start of arbitration between Newcastle United and the Premier League over the issue of how the Owners and Directors test was applied in the Magpies takeover. That has not begun yet - and Newcastle's lawyers lost two cases before the hearing, to have sport law specialist Michael Beloff QC removed as chairman of the panel and for the proceedings to take place in public. But in March Ashley said he was fighting "tooth and nail" for the deal to go through and still felt he had a "strong case" which would succeed. Read More Related Articles Newcastle United takeover: The key argument Premier League chiefs are trying to win in legal battle Read More Related Articles The Owners' and Directors' Test which stalled Newcastle takeover will be reviewed "The fans and the region are being denied what they deserve," he said in a statement to Sky Sports. You can read the club's lengthy statement on the process here. The official position of the Public Investment Fund continues to be that they have withdrawn their interest, with no statement since July 2020 - when they dramatically pulled out of the deal. But sources close to the process are adamant that the PIF remain interested, are keen on the Newcastle deal and will return to the table if - or as soon as, depending on who you talk to - a path to the takeover being completed emerges. PIF have made several moves in the professional sport world and have spoken in positive terms about Newcastle since the deal collapsed. Crown Prince Mohammed bin Salman, Mike Ashley and Yasir Al-Rumayyan Everything you need to know about the arbitration process Arbitration will allow an independent tribunal to make a call on the key issue which prevented the takeover: whether the PIF is seperate from the Government. This has been the subject of much debate but Newcastle and the Premier League disagree. As Ciaran Kelly wrote last month: "The Premier League noted how the PIF's directors are appointed by royal decree; how the fund's board is 'almost exclusively comprised' of government ministers; how the PIF was 'expressly under the direction' of a Saudi government ministry; and how its 'function is to serve' the Kingdom." The PIF disagreed, securing a letter from the "Highest Court" in Saudi to assure there was seperation between Government and the fund. Read More Related Articles European Super League could have harmed Newcastle United takeover bid, says football finance expert Read More Related Articles Jamie Reuben denies discussing the Newcastle takeover bid with Boris Johnson The process, overseen by three judges, will likely decide whether the deal can go ahead. If the Premier League's case is proven, they would then be in a position where they could deny the deal based on Saudi links to piracy. The PIF have indicated they will not proceed with the deal if Crown Prince Mohammed Bin Salman is required to be named as a director. This is a regulatory issue though, not a civil case.
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. Here is an explainer on the complex process from football law expert Thomas Horton.
MANCHESTER, ENGLAND - APRIL 09: The Newcastle United badge and Premier League logo on football shirts on April 9, 2020 in Manchester, United Kingdom. (Photo by Visionhaus/Getty Images)
Will it happen? The consortium's energetic driving force Amanda Staveley has been vocal about the deal and what it would bring to Newcastle: first mobilising supporters, then lobbying hard with the help of political friends to try and force the deal through. There continues to be "confidence" that the deal will happen from the PCP Capital Partners side. A recent piece in the Middle East suggested that holds, with the optimistic hope of the club being in new hands by the summer. Cynics would argue there has been confidence from the start and all sides now seem to agree that action is required. So much rests on arbitration.
Amanda Staveley's consortium is reportedly eyeing a deal to buy Inter Milan
What the experts are saying The truth is that no-one knows how arbitration will go. Even Nick de Marco, Ashley's high-profile lawyer, admits that arbitration is not the preferred first route because of the uncertainty that surrounds the outcome.
The club's current hierarchy - having felt they were on the way out last summer - are continuing to plan as if it is "business as usual". The social media savvy consortium One thing is certain: Staveley and her partners remain absolutely committed to the deal. Recent reports of interest in Inter Milan were denied immediately. If the recent turning up of the volume on social media is anything to go by, the consortium is keen to stay central to Newcastle affairs. Mehdrad Ghodoussi's recent tweets have become more frequent and his messages about running a club prompted plenty of support from Newcastle fans. Jamie Reuben was also vocal about the European Super League and how damaging it would be. The breakaway would have ruined Newcastle's hopes of breaking into the elite under new owners, and Ashley was another opponent. The political dimension A series of Freedom of Information requests by the Chronicle revealed just how close a decision was. You can read the emails here in this exclusive story. The deal then became embroiled in the lobbying scandal that was the talk of Westminster as it emerged that Boris Johnson had been in favour of the deal and asked a key advisor to find out what was happening. Mohammed Bin Salman also warned Johnson about the implications of it not happening.
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