The impending announcement of the PIF’s takeover of Newcastle United was delayed from the planned date of Monday over a few small details. The PIF, Newcastle United, and the Premier League each have a complex set of regulations and requirements. This has led to due diligence being drawn out on the part of the Premier League, exacerbated by the current lockdown in both the UK and KSA, but we can report that terms including figures are agreed and the deposit has been completed.
Speculation regarding a potential one-off embargo against the PIF and Saudi Arabia being imposed by the Premier League is untrue, and we can report that the Saudi Finance Minister has received no indication of any such issues or obstacles with regard to the takeover of Newcastle United.
The new owners have a “dream list” of players, including some of Europe’s biggest names, which they see as crucial to bringing the club’s results and achievements to the highest level. The Newcastle United board are confident they will be able to announce the deal formally within, at most, the next week.
