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Geordie Saud

Discussion in 'The Football Forum' started by bluebell, Oct 7, 2021.

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  1. bluebell

    bluebell Well-Known Member

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    Newcastle takeover: Saudi Arabian-backed deal is close

    By Alistair MagowanBBC Sport
    Last updated on6 October 20216 October 2021.From the sectionNewcastle
    [​IMG]
    Mike Ashley has owned Newcastle since 2007
    A Saudi Arabian takeover of Newcastle United is close to being agreed.
    Approval from the Premier League could possibly come in the next 24 hours after a consortium proved the Saudi state would not have control of the club.
    Instead the Public Investment Fund (PIF), which is set to provide 80% of funds for the £300m deal, will be seen as separate to the state and therefore allow the takeover to pass the Premier League owners' and directors' test.
    It was believed that a resolution came after Saudi Arabia settled an alleged piracy dispute with Qatar-based broadcaster beIN Sports, which own rights to show Premier League matches in the Middle East.
    But sources have told BBC Sport that an agreement between the Premier League and the consortium was found prior to the news emerging on Wednesday, with the two parties being set for arbitration on 3 January.
    The Saudi Arabian state has been accused of human rights abuses, but with the majority owner PIF deemed a separate entity, that, and any piracy issues, are no longer an impediment to the takeover in the Premier League's view.
    The shock news will delight the fanbase after a Newcastle United Supporters' Trust survey on Tuesday showed that 93% of its members were in favour of the takeover.
    Many fans want current owner Mike Ashley to leave the club after a 14-year reign, which they believe has been plagued by a lack of investment and ambition.
    The Premier League and Newcastle have declined to comment.
    An 18-month saga comes to its conclusion

    Whatever the reason for the resolution between the consortium, fronted by financier Amanda Staveley, and the Premier League, it is set to end an 18-month saga.
    A deal had been agreed in April 2020 between Newcastle and the buyers, which also includes Staveley's PCP Capital Partners and the Reuben brothers, but they walked away four months later when the Premier League offered arbitration to settle a disagreement on who would control the club.
    That would decide whether PIF was separate to the Saudi state and therefore if it would pass the league's owners' and directors' test, which measures the suitability of owners at a club.
    It has been unclear if alleged piracy or alleged human rights abuses by Saudi Arabia were the central issue, but they have been rendered immaterial now that PIF is regarded as a different entity.
    That is despite Crown Prince Mohammed bin Salman also being chair of PIF and being accused of ordering the death of journalist Jamal Khashoggi, which the Kingdom's leader denies.
    The breakthrough in the takeover coincides with news that came earlier on Wednesday that Saudi Arabia will cease showing Premier League and other football matches illegally via beoutQ and lift its four-and-a-half year ban on showing beIN Sports.
    The Qatari broadcaster is currently in the middle of a £400m deal to show Premier League games in the Middle East and North Africa region over three years and the issue became subject of a World Trade Organisation report in June 2020, which said Saudi Arabia helped break international piracy laws.
    Premier League chief executive Richard Masters also said in a letter in August 2020 that intellectual property rights were "critically important to the league's commercial interests".
    BeIN Sports' link to the takeover was also raised in Newcastle's Competition Appeal Tribunal last week where it was alleged by lawyers that it and other Premier League clubs had "improperly influenced" the league into blocking the takeover based on its deal to show matches.
    The claims came from Daniel Jowell QC, who was acting on behalf of St James Holdings, which wholly own shares for Newcastle and is also owned by club boss Mike Ashley.
    A decision on that hearing is yet to be announced and could become redundant if the takeover is approved.
     
  2. RedStar

    RedStar Well-Known Member

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    Well if they proven their bona fides to as thorough and rigorous an investigative body as the Premier League then that's good enough for me.
     
    moron, Modo, tomasjj and 12 others like this.
  3. Bradley

    Bradley Very Well-Known Member

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    Who can we sell to them at an inflated price, someone they would consider a statement signing?

    Ox?

    Gomez?
     
    moron, SaRed, iseered and 4 others like this.
  4. Woland

    Woland Part of the Furniture Member

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    They're gonna buy PSG for the players and use the ground as a toilet.
     
    moron likes this.
  5. keniget

    keniget Part of the Furniture Member

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    Another City / PSG... great.
     
    Halmeister likes this.
  6. Richey

    Richey Well-Known Member

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    Steve Bruce has got to be in trouble if this happens. No way are super rich owners gonna want him as manager.
     
    moron, Hass and Donavan Ried like this.
  7. bluebell

    bluebell Well-Known Member

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    We know where Conti will be going
     
    rurikbird likes this.
  8. momoWASboss

    momoWASboss If you take me seriously then you’re an idiot Member

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    What top top player would want to live in the north east? It’s fucking grim.
     
    binomial likes this.
  9. Hansern

    Hansern SCM Addict Member

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    They'll surely get some players in, but I'm not that worried about them yet. They're shite and a have Steve Bruce as their manager.
    It will take a few years before they can challenge for the top 4. Depending on spending obviously, but their strategy seemed to be long term and also focus on building an exceptional youth set up.
     
    Donavan Ried likes this.
  10. Markeh

    Markeh Very Well-Known Member

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    You’ve heard of money right?
     
  11. Hyena

    Hyena Well-Known Member

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    Well if FSG were hoping to sell out they had best get cracking.

    At this rate, only the Taliban will be left to buy us.
     
    juniormember, moron, acejmk and 7 others like this.
  12. Woland

    Woland Part of the Furniture Member

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    Newcastle's new owners have four times more dough than the rest of the league put together, including Man City. They'll start winning stuff in the next five years.
     
  13. Richey

    Richey Well-Known Member

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    It would seem very Newcastle-ish though for them to get lots of money, buy good players and even get a good manager yet still be shit.
     
    Modo, SaRed, HC and 3 others like this.
  14. Athens

    Athens Greatest Bloke Ever [Citation Needed] Member

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    Pep will take a struggling Newcastle side and turn them into league winners...
     
    moron, SaRed, iseered and 7 others like this.
  15. Donavan Ried

    Donavan Ried Alive and still kicking, Just Member

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    If I was the new owners the first thing that I would do is to see if I Could get Kevin Keegan in as Sporting Director, Leave bruce till the end of the season, while holding takes with potential managers
     
  16. momoWASboss

    momoWASboss If you take me seriously then you’re an idiot Member

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    Even the Manchester scum have failed to get players because of location. Imagine telling your missus that you wanna move to a perma grey area without any designer shops on the doorstep.
     
  17. binomial

    binomial I'mma sexy bastard. Member

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    Have you been to Newcastle?

    No amounts of money would persuade me to live in that dumpster.
     
    Markeh and momoWASboss like this.
  18. momoWASboss

    momoWASboss If you take me seriously then you’re an idiot Member

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    They’re having a ball at the moment and would do some mad shit like that.
     
  19. bluebell

    bluebell Well-Known Member

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    I wouldn't call this grim. And at £1.4m I think most players would be able to afford it.
    [​IMG]
     
    Donavan Ried likes this.
  20. Mystic

    Mystic Moderator Moderator

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    Yes, every 20 year olds dream is to live in some Manor house in the middle of nowhere.
     
    Modo, SaRed and momoWASboss like this.
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