The Newcastle United takeover saga has taken a sharp twist yesterday after Saudi Arabia claimed to launch a crackdown on the TV piracy of sports matches.
Last week Louise Taylor of The Guardian reported that the verdict will go in the potential Newcastle owner’s favour. She wrote that sources close to the deal believe that ‘it is finally near to being sanctioned’.
The Premier League has taken 11 weeks to give approval to the contentious £300m Saudi-led takeover.
And now, Oliver Holt of the Daily Mail has posted this tweet. He claims that ‘irrespective of right or wrong’, the Saudi Arabia takeover of Newcastle will take place.
Unscientific instinct, irrespective of right and wrong: money talks loudest in Premier League so Saudi takeover of Newcastle will go through
— Oliver Holt (@OllieHolt22) June 21, 2020
Last week it felt like the deal would collapse. The World Trade Organisation released a report where it was stated that the Kingdom of Saudi Arabia was behind beoutQ. The ruling raised serious questions over whether the Premier League can approve the £300m takeover bid from the Saudi consortium.
We all know that Mike Ashley has already agreed a £300m deal to sell Newcastle, and a part payment has already been paid, which is non-refundable. The potential new owners – the Public Investment Fund of Saudi Arabia, Reuben Brothers and PCP Capital Partners – are waiting for the final verdict from the Premier League.
However, this move from Saudi Arabia could be the first in a bid to solve the huge legal block to the Newcastle takeover. The Premier League, who previously failed to tackle the Saudi piracy problem, could now give their approval if they believe the crackdown will be genuine.