What is happening with Newcastle United takeover?

Mohammed bin Salman Newcastle United takeover
Crown Prince Mohammed bin Salman is on the verge of competing Newcastle United takeover through the Public Investment Fund of the country. Credits: Getty Images

Newcastle United fans may finally be nearing the end of the Mike Ashley regime as a new Newcastle takeover is taking shape.

The Sports Direct boss has been the controversial owner of the Toon since the summer of 2007, but the fans may soon be getting their wish as Ashley has accepted a takeover bid from the PCP Capital Partners.

The Premier League is now looking through all the details regarding the Newcastle takeover after the Saudi-led group has paid the deposit and exchanged contracts with Ashley.

Pressure on Mike Ashley to leave

The Magpies fanbase was over the moon that the decision has finally been made by Ashley to sell the club. They have been demanding the Sports Director owner to remove himself from their club for the last ten years.

Fans have been constantly frustrated by Ashley as he has been content with Newcastle just avoiding relegation every season.

The pressure on Ashley mounted when the club was relegated at the end of the 2008-09 season, and since then they have been relegated on one further occasion.

Decisions to have angered fans over the years include the hiring of Director of Football Dennis Wise, the departures of Kevin Keegan, Chris Houghton and Rafael Benitez, and the renaming of St James’ Park.

Some fans are over the moon with the possibility, while others are afraid that a historical club can be damaged. Such as Queen Parks Rangers in the past. Is it all about the trophies, as Alan Shearer underlines in this interview?

There still be roadblocks in the way of the Arab deal being completed. So, what are the chances of the deal falling through? Buckle up for the latest NUFC news!

Why is Newcastle United takeover taking so long?

Newcastle fans are trying their best to stay level-headed at present, as Mike Ashley has tried to sell the club four times in the past. The last occasion came when the club was relegated to the Championship at the end of the 2015-16 season.

Still, there is a sense that Ashley will not be pulling the plug on this deal, and instead, there could be external factors that lead to the deal collapsing.

when did mike ashley takeover newcastle united
Mike Ashley took over Newcastle United in 2007. The billionaire is also the owner of the Sports Direct brand. Credits: Independent.co.uk

Following the payment of the deposit and the exchange of contracts, the only factor that needs to be completed is the passing of the Premier League Owners and Directors’ test.

Though, Mark Douglas from Chronicle Live believes that this test passes because they ‘aren’t a moral exam’. However, beIN Sport has urged the remaining clubs in the top-flight to block the deal.

All clubs reportedly received a letter from the broadcaster. They allege that Saudi Arabia is involved in the illegal streaming of Premier League matches.

The letter urged clubs to block the takeover as they believed this streaming would threaten the value of the rights of the league.

However, whether the move being blocked due to this reason seems unlikely. Abdullah bin Musa’ad completed his full takeover of Sheffield United in September last year.

Who Is Yasir Al-Rumayyan?

Should the Newcastle takeover deal could through without a hitch then NUFC’s new chairman would be Yasir Al-Rumayyan. It is believed that Al-Rumayyan is the most important man in Saudi Arabia excluding the royal family.

Yasir Al-Rumayyan
Yasir Al-Rumayyan, the leader of the Public Invest Fund of Saudi Arabia, in collaboration with Saudi Prince Mohammed bin Salman (Credits: AFP/Getty Images)

He has led the Public Investment Fund since being hired by the Saudi Crown Prince, Mohammed bin Salman in 2015. This fund is now one of the biggest sovereign wealth funds in the world with it making over £264 billion.

The takeover would see Al-Rumayyan own 80% of the club, and it is believed that Newcastle United would play a huge role in Saudi’s Vision 2030.

If the process is completed then the British club will surpass Manchester City into becoming the wealthiest in the world.

Top 10 richest football owners
If Newcastle United takeover gets complete the club will become the most wealthy in the world (Source: Goal.com)

That is a plan by the Saudi’s to remove their reputation surrounding oil and is part of their economic strategy. The possible Newcastle takeover chairman’s wealth has been brought about by his role in Saudi Aramco, which is considered the most profitable company in the world by Bloomberg.

Sport has been a huge factor in the plan for Saudi Arabia, with the country now hosting two PGA events, and recently made global headlines for hosting the Anthony Joshua vs Andy Ruiz Jr rematch for the world heavyweight championship.

The country has also hosted the Spanish Super Cup, and they are plotting a Saudi Formula 1 race from 2023. However, ideas that the new Newcastle owners will be investing heavily in the squad to bring success have been knocked back.

They will be faced with the same Financial Fair Play Rules that have burdened Manchester City.

What Could Happen At Newcastle Over The Summer?

The FFP regulations ensure that the Toon will not immediately be competing for a top-four spot. Will they be able to use their financial muscle to at least build future success?

Amanda Staveley, who dealt with the Manchester City takeover will be the main player for Newcastle. She will likely be the public face for the club.

Amanda Staveley
Amanda Staveley is in charge of the Newcastle United Arab takeover (Picture: Getty)

Rumors have already begun circulating regarding the long-term future of Steve Bruce after the Newcastle takeover. Rafael Benitez is already being linked with a return to the north-east.

That would certainly be a quick way to get fans onside, as they have never truly taken to Bruce. Also, there was devastation when Benitez swapped Newcastle for China.

The official announcement regarding the conclusion of the deal may still take a month or so. This happens due to the current lockdown of the Premier League clubs, due to the coronavirus.

Who can arrive in St. James Park this Summer?

For now, the Toon are already being linked with major moves over the summer for players, due to the Newcastle United takeover latest news. Players such as Philippe Coutinho, Arturo Vidal, and Gareth Bale are on the agenda.

On a more realistic note, Newcastle United transfer news already has links with Benfica. Portugal international Rafa Silva is apparently on the radar for a move to St. James Park.

Rafa Silva Newcastle United target Euro 2016
Rafa Silva is a Newcastle United target, as the Euro 2016 winner is set to leave Benfica this Summer. Getty Images

NUFC has already waved with allegedly over £17m for the winger, who can also play on attacking midfielder role. The move can happen even if the Newcastle United takeover does not take effect.

Nonetheless, it is not a case of immediate big summer moves after the Newcastle takeover. The plan in place will have a long-term aim.

Follow SoccerAntenna.com for more Newcastle takeover news updates.

About Alex Dudley 34 Articles
Alex has travelled the world covering major sporting events for various websites and publications. He has attended football European Championships, Rugby League and Union World Cups, and the Paralympics. Along with this Alex has covered big wrestling, horse racing and boxing events. His work can be found in the Express & Star, WWE Kids Magazine, or online with the Football Faithful, and The Local. Alex also works closely with betting companies such as Betfair, Coral and Betway to produce compelling sports content for their exclusive blogs.

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