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Newcastle United: Journalist drops major PIF takeover update

Newcastle United have been handed a major boost in their hopes of finally seeing their Saudi-backed takeover go through, and it’s an update which should have fans buzzing.

What’s the story?

Mike Ashley took legal action against the Premier League after the PIF-backed consortium saw their takeover attempts fall through at the 11th hour, but it appears there is now a lot more positivity surrounding it.

According to Football Insider, the Magpies “are privately confident the Premier League will sanction the Saudi-backed takeover after arbitration proceedings in July”.

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The report added: “A Newcastle source has told Football Insider that all parties are still committed to the deal and there is growing hope it will be concluded by the end of July. That could pave the way for huge changes at the club.”

Mike Ashley and the fans will be buzzing

The Magpies’ owner took matters into his own hands when the Saudi takeover fell through, hiring lawyer Nick De Marco to enter into an arbitration process in order to secure the Premier League’s approval, and this latest update should have both Ashley and the club’s fans absolutely buzzing.

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Ashley will get the money and the chance to walk away from St James’ Park and rid of his hands of a situation and environment which has become incredibly toxic against him, while the fans will get the opportunity to finally see the much-criticised owner get out of the club.

It’s a deal which suits all parties and will give everyone the chance to simply move on. Ashley can walk away to deal with his own interests, while Newcastle fans can look forward to a far more exciting future under an ownership which could catapult them into the Premier League’s elite with a massive spending spree.

Meanwhile, Bruce could sign a new Saint-Maximin in this South American starlet…

Article title: Newcastle United: Journalist drops major PIF takeover update

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