Newcastle United’s prospective £300m takeover is in ‘serious doubt’ according to fresh reports from the Guardian this week.
It is claimed that the World Trade Organisation have found that Saudi Arabia are behind illegal satellite TV service beoutQ, meaning it may threaten the deal involving the Magpies as it could be a breach of international law.
The WTO’s report won’t be made official until mid-June, so there could be a further wait for news from the Premier League in terms of the takeover being approved.
However, big Geordie figure Steve Wraith has delivered his verdict on this latest twist as he played it down in a series of tweets.
Legally they would have to find Amanda Staveley The Ruben Brothers, and MSB involved regardless if Saudia Arabia are involved and the source must be collectively the PIF which it won't be as its an investment. That is my understanding on Guardian article #NUFCTakeover #nufc pic.twitter.com/dJKVhh1PWn
— steve wraith (@stevewraith) May 27, 2020
Wraith suggests that the Premier League would need to find the entire consortium to be involved in the beoutQ scandal – that’s PCP Partners’ Amanda Staveley, the Reuben brothers and crown prince Mohammed bin Salman.
He also claims that they won’t be able to do so as the public investment fund is an investment separate to the parties involved in the country’s alleged control of this illegal streaming service.
As you can see, the whole process has been complicated by this, all whilst the top-flight try to resume the current campaign.
If Saudi’s PIF is indeed separate to the state, then there’s a good chance that the Magpies’ see the green light sometime soon, providing Wraith’s understanding is correct.
AND in other news, Luke Edwards makes worrying claim on Newcastle takeover…