Newcastle takeover update straight from the consortium

Ashley sell

At this rate, Newcastle fans may as well flip a coin.

If it lands on heads, the takeover will go through. If it lands on tails, the takeover will fail to be passed.

That's what it feels like at the moment. Three months ago claims were initially made about a takeover from the Prince Investment Fund in Saudi Arabia but somehow, Mike Ashley is still in charge.

It's been suggested that the current owner of the club will leave regardless of whether it's PIF that seal a deal.

For the Toon Army, that should be something to savour, but they'll be pleading for things go through very quickly.

Richard Masters commented on Tuesday that he was hoping for things to be resolved very shortly.

He received a grilling from MPs who stated it would be humiliating if PIF passes the owner's and director's test set out by the Premier League.

Though, according to Daily Mail reports, Mohammed bin Salman isn't even at the centre of the takeover.

MBS

However, new notions from Chronicle journalist Mark Douglas insist that the buyers are still confident that nothing will block their efforts to buy Newcastle.

Douglas was doing a live Q&A on Wednesday afternoon and he revealed the following:

"Last Sunday I was told it would be done in a couple of days so I think there's a massive belief from the consortium that there's nothing substantive that will block it. It depends on perception: clearly others think differently. Of course, if ODT is passed, confirmation could / would be a few days later anyway because money has to be transferred to MA."

MA

GIVEMESPORT'S Matt Dawson says...

If for every time someone claimed the takeover would be done in days, Newcastle were given £1m to spend, they'd be sitting in an extremely healthy financial situation.

It's been speculated for weeks now that it's incredibly close to going through but the fact is, no one really knows.

Saudi Arabia and the Premier League are trying to work out a financial package for a TV deal, one that finally puts an end to the piracy of broadcasts in the Middle-East.

That, it would seem, is significant for any deal to be concluded.

St James'

As Masters said, a resolution is being worked on but once a conclusion is finally settled, funds will need to be transferred and contracts signed.

However, the major positive for Newcastle is that PIF don't believe it's going to be blocked. With that in mind, they can begin to prepare their first moves as owners of the club.

With Ashley finally on his way out, there are reasons to rejoice.

News Now - Sport News