Journalist who broke takeover ‘exclusive’ confirms significant move by Mike Ashley & Saudi PIF

The Telegraph’s Jason Burt – the man who broke the Sunday night ‘exclusive’ on a proposed takeover at Newcastle United – has shared further clarification on the current state of play.

Speaking on Twitter last night, the Telegraph’s Chief Football Correspondent has confirmed that BOTH Newcastle United and the Saudi Public Investment Fund (PIF) submitted paperwork to the Premier League last week.

Burt also reveals that this was done last Tuesday (24th March), suggesting both Mike Ashley and the Saudi-based group are taking significant steps towards a potential takeover (not just the buying side).

Many will remain highly cautious, if not pessimistic, given the number of false dawns we’ve encountered over the past few years, but there’s been more than one source of encouragement released by reliable reporters / papers over the past few days.

The BZG takeover was first reported by the Sun – say no more – where as this deal involving the Saudi PIF broke from the Wall Street Journal (one of the US’ leading business papers) and has been validated by the Athletic’s George Caulkin and senior football correspondents from both the Times (Martin Hardy and Matt Lawton) and the Telegraph (Jason Burt and Sam Wallace).

Mike Ashley is far too unpredictable to make us genuinely confident that a sale is happening this time around, but it certainly feels more likely and advanced than some of the previous ‘attempts’ we’ve bought into.

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About Olly Hawkins

Olly has been a Junior Magpie from birth. As a season ticket holder and avid Newcastle United fan - he eats, sleeps and breathes all things NUFC.

6 thoughts on “Journalist who broke takeover ‘exclusive’ confirms significant move by Mike Ashley & Saudi PIF

  1. I always find it funny that these stories come to prominence right after Ashley has found himself in hot water yet again !
    Could it be his P.R pal Barnes steering away criticism from him given what has went on over the last week ?


  2. I do hope this takeover happens there’s been too many times we’ve thought we were going to get rid of Mike Ashley surely now with everything he’s done its time for him to realise that nufc does not want him


  3. he’s done it to take the heat off him.Until NUFC make an official statement and confirmed the club has a new owner everything is pure speculation.

    As it stands and the reality is : Fatman still owns NUFC-it is purely and simple as that


  4. Like to think it’s legit, looks like he’s haemorrhaging cash at the minute with his share values plummeting.

    Frasers Group has gone from 2.4bn to 944m.

    He is in a position where a reasonable offer comes in, even if it’s lower than he wants he would probably accept it.

    PIF aren’t daft, time to strike is now.


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