Russian consortium one of the ‘two groups’ rivalling Saudi’s £340m takeover bid – BBC Look North

According to BBC Look North, a mystery Russian consortium are one of the ‘two groups’ rivalling the Saudi-based bid to buy Newcastle United.

This comes from Mark Douglas’ latest takeover piece for the Chronicle, and emerges after the Press Association’s Damian Spellman reported yesterday that the Staveley-led Saudi group were one of THREE parties who’ve been ‘in talks’ with Mike Ashley’s representatives.

Now, BBC Look North report that one of the two unnamed groups is based in Russia and are ‘continuing talks’ with Newcastle United.

Here’s a snippet from Douglas’ piece, which touches on the ‘Mystery Russian consortium’ mentioned by the BBC:

On Tuesday January 28 the Press Association reported that there are two rival consortia also in talks with Mike Ashley over a buy out of Newcastle United. “The Sports Direct magnate’s representatives are understood to be continuing takeover negotiations with both parties despite the emergence over the weekend of details of a £340million proposal funded in large part by the Saudi Arabian Public Investment Fund,” Damian Spellman wrote.

And later BBC Look North reported that one of the two groups rivalling the Saudi group is based in Russia and is continuing talks with Newcastle.

For clarity, discussions with the other two parties have also been under way for several months.

— Damian Spellman (@DamianSpellman) January 28, 2020

If this Russian-based group are one of the ‘other two parties’ Spellman referred to yesterday, it’s claimed they’ve been in talks for several months.

Perhaps this is why Mike Ashley is delaying any decision with the Staveley and the Saudi’s? Although, to second guess what’s going on inside that man’s head would be naive.

Either way, we all want the same conclusion – Mike Ashley out and some ambitious new owners in place to finally fulfil our untapped potential after years of neglect.

(Fancy writing for us? Send any articles/ideas over to us at [email protected] & we’ll get back to you!)