The latest batch of Newcastle United takeover rumours surfaced around 2 months ago. We have seen a lot of speculation from journalists throughout this period, with some being trustworthy sources and other reports just aiming to attract attention.
In this article, we breakdown everything we know so far, sorting the fact from the fiction and giving a brief overview on the current picture.
- Any managerial appointment / player transfer. You can take your pick of Bale, Zidane, Griezmann and many others! With the takeover not yet completed, there is no chance any players have been approached. A shortlist of potential managers that the new owners could be looking at is realistic, but that is as far it is can have progressed until now.
- Mike Ashley loaning money to Amanda Staveley to aid the purchase of the deal. It was rumoured that Ashley would loan £150 million to Staveley’s company from St James Holdings to help fund the deal, but still remove all control from Ashley. Why on earth would Ashley even consider this?
- There are two other parties interested, which could scupper the current parties acquisition of Newcastle United. With the deal progressing and currently sitting with the Premier League, awaiting approval, why would anyone involved in the process want to end the current deal and start the process over?
- The Government attempted to block the takeover. If Saudi Arabia was such a bad country to go into business with, then global brands such as Shell, Uber, and now even Disney, should all be frowned upon. Perhaps they should all have legal battles lodged against them too.
- 10 Premier League clubs could block the takeover all together. My personal favourite! According to this rumour, once the Premier League have completed their vigorous vetting process, the Newcastle owners would then need to go Dragon Den style to seek approval from other clubs. The biggest load of nonsense so far!
- Companies House movements. PCP Capital Partners, linked to Amanda Staveley, showed ‘Registration of Charge Documents’ that were signed by Joseph Collingwood. Joseph is an attorney for St James Holdings, a company owned by Mike Ashley himself.
- Further Companies House movements. We saw activity with another company linked to Amanda Staveley, Cantervale Limited, which connected with RB Sports and Media Ltd. These companies are owned by the Rueben brothers, which have been sourced as partners in the takeover of Newcastle United.
- Deposit Paid. It has been reported by many reliable sources that an initial deposit has also been paid. The value of this is reported to be around £17 million, with Mike Ashley in line to retain this money, regardless of the outcome.
- BeIN Sports attempted to block the takeover. The broadcaster wrote a letter to the Premier League urging them to block the takeover due to fears of illegal streaming and the tainting of the leagues reputation. Safe to say this will not be a stumbling block, and Richard Keys will need to look on as we climb the Premier League table in years to come.
- Documents have been submitted to the Premier League and are awaiting final approval. The most important piece of concrete evidence we currently have is the fact that contracts have been exchanged, and paperwork is currently under review from the Premier League.
The current situation with the Newcastle United takeover does not differ from the situation we have now been in for the past 6-8 weeks. The exchanges between Mike Ashley and the involved parties have been successful. The parties have reached an agreement, and a deposit has been paid to secure this agreement.
As with all large purchases, a review is currently being undertaken to ensure each side of the deal holds up as intended. From the selling perspective, Mike Ashley will need to provide the finances behind the club, while from a buying perspective, proof of funds will need to be evidenced, while future plans must be outlined and approved.
It is not out of the ordinary for these reviews to take time. All we can do as Newcastle fans, is sit back, enjoy the prospect of becoming the richest club in England, wait for the final announcement, and finally live the dream of getting our club back.
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