According to North-East reporter Liam Kennedy, sources close to the Reubens have insisted in recent weeks that they remain ‘supremely confident’ a Saudi takeover will eventually go through at Newcastle United.
The Reubens brothers are part of the consortium bidding to buy the club from Mike Ashley, with themselves and Amanda Staveley each putting forward a 10% stake.
Claims surrounding their newfound ‘confidence’ comes from Kennedy’s latest piece for Newcastle World – a new media outlet to emerge on Tyneside – following his move across from the Shields Gazette.
As we know, the all important arbitration hearing was delayed until ‘early 2022′ back in mid July, however the CAT case (Competition Appeal Tribunal) will take place at the end of this month, deciding whether the body has the power to oversee the complaint made by St James’ Holding Limited.
It’s all very technical and, once again, we are left with continued confidence from the buying side – despite the fact this deal looks set to drag on well beyond the 18-month mark!
Nevertheless here’s a snippet from his latest piece for Newcastle World:
‘It’s up in the air [the takeover].
‘Silence has been replaced snippets of information lately, but nothing worth writing and nothing worth getting excited over.
‘The rumour-mill is in full flow on social media and I’d advise fans to take most, if not all of it, with a hefty pinch of salt.
‘All eyes remain on the end of this month, when a Competition Appeal Tribunal hearing will sit to decide whether the body has the jurisdiction to oversee the complaint by St James Holdings Limited. An appeal is likely to follow though, whoever wins – and that could be lengthy. As long as 12 months, according to legal sources.
‘The arbitration will likely happen in 2022 after a stalemate in evidence submissions.
‘So, we wait. As we always do.
‘And while noises out of the buyer side have been muted in recent weeks, sources close to the Reubens, whose part of the deal is notably headed up by Jamie Reuben, have made it known in the last few days they remain supremely confident they will get the deal done for NUFC.
‘More salt? Maybe.‘