Unclarity Occurred With the Sale of the Newcastle Club

Unclarity Occurred With the Sale of the Newcastle Club

Saudi Arabian consortium that decided to buy Newcastle United delayed the deal as there is no clear understanding, who will be a new owner of the club. BBC Sports published a newsletter about that on their website not so long ago.

Few More Words About the Deal

Even after the whole sixteen weeks after all the documents were registered and a £ 300 000 000 deal was agreed with the Premier League, it still was not fully accepted by both the club owners and directors' colleagues.

It seems that the main reason for the delay is stuck to the responsibility at St. James' Park. Nowadays, due to a coronavirus pandemic, it's a significant problem - to keep the whole bunch of anti-epidemic measures and. Becoming responsible for the life and health of lots of people those times is not the most excellent choice for anybody.

More About the Previous Bidding Process

The first bid had been set up by Amanda Staveley, the British financier. But after the PIF (Arabia's sovereign wealth Public Investment Fund) became interested in that deal, everything went not as good, as she wanted. At the end of the bidding, the PIF got about 80% of the whole stake.

Crown Prince Mohammed bin Salman, the PIF's chairman, and lawyers of the Premier League and trying to solve the problem with the club's fate as soon as possible. They should come up with the decision before the start of the Premier League new season.