There were two more hugely positive takeover updates in major newspapers last night, giving perhaps the clearest indication yet that this buyout looks to be imminent.
The Times claims there’s “no backing out now” after a deposit was paid and paperwork exchanged, while the Mail also confirm documents being signed and cash exchanging hands, with the remaining balance set to be paid upon Premier League approval.
Here are some snippets from both:
“The £300million Saudi-led takeover of Newcastle United has moved a step closer after a deposit to buy the club was paid.
“Sources have disclosed that cash has exchanged hands — with the remainder of the balance due when the Premier League approves the change of ownership.
“It is understood that all relevant paperwork has been signed, with the process expected to take three to four weeks.”
“The £300 million Saudi Arabian deal to buy Newcastle United from Mike Ashley is done and is now simply subject to Premier League approval.
“Sources close to the deal have told The Times that a deposit has been paid and all the relevant paperwork has been signed. “There is no backing out for either side now,” one source said.
“Premier League officials still have to review all the documents and that process could take three weeks.”
There seems to be a unanimous reporting of the situation in all media outlets now which is surely fantastic news.
It’s particularly interesting coming from the Mail, as last week we had Martin Samuel’s controversial article questioning why, with all their wealth, PIF would not be prepared to pay more to acquire the club.
We posted on this blog about how it sounded like sour grapes from Ashley who is surely smarting that he’s been forced to sell for less than he initially expected. Doesn’t your heart just bleed……
The only piece of information that varies is how long the Premier League checks will take.
It is believed to take between 2-4 weeks and those checks are 100% underway, but what isn’t clearly known is when those checks started.
Get those cans in the fridge…