Sky Sports’ Keith Downie has claimed that the Newcastle United takeover is ‘pretty much’ at the final stage in a recent podcast appearance.
The northeast reporter was in conversation with former Magpies defender Steve Howey and gave the following update:
“In terms of the takeover going through, we’re pretty much at the final knockings. A lot of spade work has been done, certainly in the last two months, but even more so in the last couple of years.
“It’s been with the Premier League for a number of weeks now [for an owners’ and directors’ test] but that can happen, it can take weeks, it can take months. With the current pandemic we’ve got I think that makes it even more difficult to work out when we’ll have a resolution to this.”
It seems as if the only thing standing in the way of Newcastle being taken over is the decision from the Premier League, which has understandably taken a little longer than expected as they try to battle the pandemic as well as finding a resolution for ‘Project Restart’.
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Saudi Arabia’s Public Investment Fund will take 80% of the club with Amanda Staveley and the Reuben brothers taking 10% apiece. Although, it is thought that Staveley will be the face of the board.
The deal is reportedly worth £300m and a deposit around £17m has already been paid into Mike Ashley’s bank account.
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