Mike Ashley says Newcastle’s takeover will go ahead in January

Tue 21 September 2021 | 18:58

Newcastle’s owner Mike Ashley has talked about the takeover’s process.

Mike Ashley

is sure that the processes and the changes in

Newcastle United

will keep going through 2022 as it will restart in January. Ashley thinks that the arbitration ruling over the failed takeover last year will be in their favor this time, as it will be heard in January of 2022.

Ashley agreed on a deal that is worth around £300m with a consortium in 2020, and he is hopeful that he can finally sell The beleaguered Magpies to the consortium when the legal process gets over.

Amanda Staveley

, the owner of PCP Capital Partners, has put together a group alongside the Reuben Brothers (David and Simon) and Saudi Arabia’s Public Investment Fund, and they would buy 80 percent of the club. They have been trying to finalize this deal since early 2020 after a lot of negotiations, but the deal faced a setback when Saudi’s PIF group walked away from the deal because they faced some difficulties by the Premier League and failed to pass owners' and directors' test.

Ashley has been doing everything in his power to change the Premier League’s decision, and in January, the main part of the case, which is the arbitration case with the league, will be held.

source: SportMob

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