Newcastle United Saudi Arabia Takeover Discussion On TalkSport's Sports Bar (Wed 6th October 2021)

Newcastle United Saudi Arabia Takeover Discussion On TalkSport’s The Sports Bar (Wednesday 6th October 2021)

A Saudi Arabian takeover of Newcastle United is close to being agreed.

Approval from the Premier League could perhaps come in the next 24 hours after a consortium proved the Saudi province would not have control of the club.

Instead the Public Investment Fund (PIF), which is set to provide 80% of funds for the £300m deal, will be seen as separate to the province and therefore allow the takeover to pass the Premier League owners’ and directors’ test.

It was believed that a resolution came after Saudi Arabia settled an alleged piracy dispute with Qatar-based broadcaster beIN Sports, which own rights to demo Premier League matches in the Middle East.

But sources say an agreement between the Premier League and the consortium was found prior to the news emerging on Wednesday, with the two parties being set for arbitration on 3rd January 2022.

The Saudi Arabian province has been accused of human rights abuses, but with the majority owner PIF deemed a separate entity, that, and any piracy issues, are no longer an impediment to the takeover in the Premier League’s view.

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