Newcastle United handed positive takeover update as PIF interest discussed

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Newcastle United are preparing for what will be an interesting season.

A number of strong summer additions has certainly got supporters feeling a little bit more optimistic for the campaign ahead, with deals for Callum Wilson, Ryan Fraser, Jamal Lewis and Jeff Hendrick all adding real quality to Steve Bruce's squad.

But let's not pretend that this has been the summer that many dreamed of.

For months supporters had hopes of seeing their club become the richest in the Premier League with a £300million takeover on the cards.

Amanda Staveley was the figurehead of a consortium backed by Saudi Arabia's PIF which would have taken control of the club - as well as seeing Mike Ashley exit stage left.

That deal broke down in dramatic fashion with a legal challenge against the Premier League now being pursued in a last gasp effort to get a deal done.

One man who has been covering the takeover week in, week out is Chronicle Live editor Mark Douglas who has claimed that PIF still hold hopes of striking a deal to take over the Magpies.

Writing for Chronicle Live, Douglas said: "My understanding is that there are manoeuvres in the background but the battle has moved on to the legal challenge from Mike Ashley towards the Premier League.

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"That is being done with the intention - long-term - of forcing the issue and allowing this takeover to go through.

"An interesting footnote: PIF have been approached by plenty of clubs of late. But they'd prefer to wait it out for Newcastle."

He added: "I really don't know the sort of timescale we're looking at.

"Nick De Marco stayed tight-lipped when contacted by the Chronicle other than to confirm he was still working for Mike Ashley.

"I don't think it's a short-term thing - the January window will probably fall to Ashley, Charnley and Bruce."

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GIVEMESPORT'S Phil Spencer says...

I have huge sympathy for Newcastle United supporters.

The proposed takeover dominated the newspaper for over a year as they prepared to see their club under fresh ownership.

Mike Ashley is not a popular figure and it seemed that they were finally going to get rid of him.

Unfortunately that didn't happen.

The manner is which the £300m takeover fell through was even more frustrating.

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With no real closure offered to the whole saga, supporters are still holding out in the hope that a deal could somehow be revived.

But with matters now going down the legal route, it could be an incredibly messy one to reignite.

If a deal with PIF was to come back on the table the chances are that it wouldn't be imminent, and that's why supporters must not pin all of their hopes on seeing a deal happen in the short-term.

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