PIF facing rival Newcastle bid

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The Saudi Prince Investment Fund have a new rival in their bid to buy Newcastle from Mike Ashley.

The news was confirmed by journalist Lee Ryder on Friday afternoon as he declared the first steps had been put in place by American entrepreneur Henry Mauriss. 

Reports emerged earlier this week that he was preparing a rival bid as PIF’s £300m takeover struggles to pass Premier League regulators. 

Speaking in a Q&A on the Chronicle website, Ryder had the following to say: 

“He has filed papers with Companies House so it’s a bit more than paper talk. I’m still looking for more convincing info to show he is serious about the prospect of taking over.” 

The key information here is that Mauriss has now actually filed papers, showing that prior interest is clearly more serious about than first thought.

Though, it must be said, that more information is required to fully understand the extent of the American’s interest in the Magpies.

GIVEMESPORT’S Matt Dawson says…

Newcastle’s apparent takeover has been a long drawn out saga, but when are things ever easy at St James’ Park?

All the way back in April, Ashley decided to sell his stake in the club to PIF but because of varying factors, a deal hasn’t been wrapped up.

One reason is down to the piracy of Premier League broadcasts in Saudi Arabia. They believe that the league have lost billions because of this and thus, there are complications.

The government has allowed the top-flight to cast their own decision on that but no ultimatum is forthcoming.

Brokered by Amanda Staveley’s PCP Capital Partners, all that’s left now is to pass the owners and directors test. 

Though, if that fails, it remains a distinct possibility that new American investment would arrive through the doors of Newcastle.

What happens is anyone’s guess, but things could be about to get exciting if two parties put themselves in the hat.

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