Premier League CEO makes Saudi takeover claim with £300m decision set to arrive ‘this week’

According to Forbes, a decision from the Premier League on a Saudi-backed takeover of Newcastle United is expected to arrive “this week”.

Their latest report also revealed that an unnamed chief executive at a “top Premier League team” told them this morning that it’s a “flip of a coin” as to whether this £300m deal will pass the owner’s and director’s test or not.

Forbes also claim that the Premier League will make their final decision upon reading a report set to be released by The World Trade Organization (WTO) this week, with that expected to clarify the link between our would-be owners and the illegal pirate satellite TV service, beoutQ.

Here’s a snippet from their piece, which suggests the Saudi-backed buyout really is a 50-50 call and set to go right down to the wire:

It’s going to be a photo finish.

The sale of Newcastle United by Michael Ashley to a group financed by Saudi Arabia’s Public Investment Fund and fronted by PCP Capital Partners for $375 million (£300 million) is 50-50 at the moment. “If you’re asking me which way the vote will go with the the owners and directors of the Premier League it’s a flip of a coin,” according to an executive at a top Premier League team I discussed the deal with this morning.

The Premier League is set to rule on the sale of the English soccer team in part based on a report by The World Trade Organization that ruled that Saudi Arabia is behind a pirate satellite TV and streaming service that offers illegal access to sporting events. Broadcaster beoutQ has been illegally showing matches—mainly in Saudi Arabia—despite the rights to show games in the region belonging to beIN Sports, who are currently in the middle of a three-year deal with the Premier League worth $500 million (£400 million).

A decision by the Premier League is expected this week. Newcastle United currently sit in 13th place in the Premier League, the same place they finished in 2018-19. After being shut down for more than three months due to the Coronavirus, the league will resume play June 17.

What a huge week this promises to be, then.

Not only are we finally returning to Premier League action on Sunday after several months away, it looks like this once exciting, now exhausting Saudi takeover saga may finally come to an end – one way or another.

After an excruciating wait, let’s hope and pray the result is a positive one so we can say goodbye to Mike Ashley and ‘hello’ to ambitious new owners.

We’ve got everything crossed.

(Fancy writing for us? Get in touch at NUFCblogsubmissions@gmail.com & we’ll get back to you!)

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.

5 thoughts on “Premier League CEO makes Saudi takeover claim with £300m decision set to arrive ‘this week’

  1. Nowhere does anyone say that decision will be made this week – they can’t even confirm if the WTO report will be released this week. FFS man, get a grip and lay off the click-bait.

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  2. sickandtired:
    Nowhere does anyone say that decision will be made this week – they can’t even confirm if the WTO report will be released this week. FFS man, get a grip and lay off the click-bait.

    “A decision by the Premier League is expected this week.” – You might want to read the first line of the final paragraph we quoted from Forbes again…

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  3. It is dragging on far too long and as always have a feeling that the club can’t make the deal… All the hype just to keep us interested and hopeful but I only expect that the deal would fail…

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  4. This time next year the premier league will make the decision that the FCB is a fit and proper person to lead the charge up the championship. FFS JUST MAKE A DECISION !!

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  5. Don’t know why he’s just going to remain as the owner and pocketed 15 million non refundable business is what the FCB is good at scamming people out there money like all the season ticket holders I feel sorry them as sitting at home watching is nowt like being there with full house 52 and if he remains I feel be lucky to get as many as SMB for season coming and when will the supporters be aloud back in that’s if there are many there will be ones

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