Newcastle’s delayed £300m Saudi takeover will NOT be impacted by possible relegation with new buyers shocked process is still ongoing ahead of Premier League’s June 17 restart
- Newcastle’s Saudi takeover will not be affected by the threat of relegation
- Steve Bruce’s side are eight points clear of the bottom three with nine games left
- The deal struck in April has a non-refundable £17m deposit paid to Mike Ashley
- Sources say the buyers never imagined the process would still be ongoing now
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The delayed £300million takeover of Newcastle United does not include any allowance for relegation given the Saudi-led consortium expected to be in control long before the season’s resumption.
Sportsmail has been told that the deal Mike Ashley agreed with the prospective new owners does not include any clauses which relate to the possibility of relegation or, equally, European qualification.
The delayed Saudi takeover of Newcastle United does not include any allowance for relegation
Steve Bruce’s side are currently eight points clear of the Premier League’s bottom three
The terms of the buyout were struck in early April and are locked in at £300m, with a non-refundable £17m deposit having already been paid to Ashley.
Sources insist they are relaxed about the situation given that Steve Bruce’s side are eight points clear of the bottom three and say that Amanda Staveley, the Reuben brothers and the Saudi Public Investment Fund are committed to the long-term project at St James’ Park, pending Premier League approval.
But the delay in the League’s owners’ and directors’ test now means there is a little extra emphasis on results and seeing home survival, especially if the process extends several weeks into the resumed season.
There is also the possibility of the agreed price taking on added value, of course, were Bruce to lead the team to FA Cup glory and continental competition next season.
The only two things that can now scupper the takeover, sources say, are the Premier League blocking it or, if it is approved, the buyers not producing the money.
The Saudi wealth fund, led by Yasir Othman Al-Rumayyan (pictured), are bidding for the club
The deal was struck in April, with a non-refundable £17m deposit paid to owner Mike Ashley
Those close to the deal insist the latter is not an issue and they are awaiting the League’s decision, on which there is no timeframe.
Sources also suspect that the knock-on effect of the Saudi takeover being leaked to the Wall Street Journal in January has not helped with the delay.
They believe the public debate surrounding Saudi involvement and allegations of broadcast piracy has seen issues surface that would not have done had the process remained private.
The League, they say, is making a decision on proposed new ownership for the first time amid the glare of the outside world and that has almost certainly complicated matters.
Meanwhile, sources say there is no connection between the Newcastle takeover and Staveley’s High Court case against Barclays – which started on Monday – other than her attention being diverted.
Staveley and PCP Capital Partners are claiming £1.6billion in damages over unpaid fees on a Middle East investment deal dating back to 2008.