Mike Ashley ‘confident’ £340m Saudi takeover will go through & new arbitration details emerge – Report

A year on from striking a deal with Amanda Staveley’s Saudi-backed consortium, The Chronicle claim that Mike Ashley has told those close to him that the PIF buyout remains the one and only takeover in town.

The same piece also claims that the NUFC owner is ‘confident’ that a £340m WILL be pushed through via arbitration – however it may be a few months yet before it reaches a conclusion, one way or another.

Lee Ryder reports that ‘those close to the bidding side’ believe the arbitration result will not arrive until the summer ‘at the earliest’, with them all but ruling out a final decision before the 2020/21 Premier League season is completed.

So, a frustrating wait for answers looks set to continue, however The Chronicle insist that Mike Ashley is hopeful he’ll sell up at St James’ Park and hand the keys over to ambitious new owners in time for pre-season.

It’s been clear for some time that the deal is agreed from a financial perspective – providing we stay up – but has been blocked by the Premier League.

Only time will tell if that decision can be reversed via the help of Nick De Marco QC and Co.

For now, let’s just hope our Premier League status is sealed over the coming weeks and that is followed by the Saudi-backed takeover we’ve all been dreaming of.

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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.

11 thoughts on “Mike Ashley ‘confident’ £340m Saudi takeover will go through & new arbitration details emerge – Report

  1. Let’s hope it finally happens, but it is Newcastle United so nothing will be straight forward. No doubt there will be twists and turns before we know.

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  2. More Rubbish from Lee, the guys a joke and knows nothing.
    Do yourself a favour Olly stop quoting this idiot.

    It’s been clear for some time that the deal is agreed from a financial perspective – No it’s been clear for sometime that the Saudi ‘s walked away (they even put out a statement saying so) and the legal action is just Mike trying to get payment.
    The sooner people stop clinging to this takeover the better, it would be easier of course if people like Ryder stopped using it as click bait for views and likes.

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  3. Has Stavely or Reuben made a comment public or PIF ??

    This is Ashley’s season ticket sale tactic, cheaper than a striker ! !

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  4. cc:
    Has Stavely or Reuben made a comment public or PIF ??

    This is Ashley’s season ticket sale tactic, cheaper than a striker ! !

    PIF have not made a single comment since they walked away

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  5. The deals dead in the water. The whole legal challenge from Ashley is an attempt to get some sort of financial compensation.

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  6. not gonna happen, they walked ages ago.
    Fans need to wake up and move on like the Saudis have.

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  7. BykerBill
    PIF have not made a single comment since they walked away

    Exactly dead in the water, all about compo

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  8. I hate Richard Masters more than l hate Liam from Tynemouth COOP.
    My Cats got me treats that day ❗

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  9. Deal isnt dead isnt that why it gone to arbitration..As for bidders walking away why hang about and look desperate they be back if signaled thier bit would now pass…Like a child to that much wanted toy that had sold out only to hear the very last one has been found under store shelving…

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