The NUFC Takeover Thread Saga - Climb Aboard The Emotional Rollercoaster. | Page 23 | Vital Football

The NUFC Takeover Thread Saga - Climb Aboard The Emotional Rollercoaster.

crooktownmags

Vital Squad Member
He will sell, but only for a price no-one with any sense would pay, and terms & conditions they would never accept. Until he finds a mug punter we are stuck with him. Unless people stopped going to the match.......................imagine that! I reckon 3 home matches running with a completely empty ground would see the back of the fat bastard. He couldn't stand the bad publicity and it would be all over the media. Its funny because I remember (to name just one) "if Rafa goes we go". What happened there then?
 
The Telegraph article in full.

A proposed £340 million takeover of Newcastle United appears to have moved a step closer, with the Premier League having been informed of a bid led by the Public Investment Fund of Saudi Arabia.

The organisation is understood to have been formally made aware of the attempt to buy out Mike Ashley, with PIF, the largest sovereign wealth fund in the world, taking an 80 per cent stake if the deal goes through. Amanda Staveley’s PCP Capital is expected to acquire 10 per cent of the club, with the remaining 10 per cent taken by Reuben Brothers, the investment body of one of Britain’s wealthiest families, who own Newcastle racecourse and have a large portfolio of properties and assets worth more than £18 billion.

The Telegraph understands that the prospective new owners have been in contact with the Premier League to register their intention to buy the club. Staveley, Jamie Reuben, son of David Reuben and the driving force behind his family’s involvement in the deal, and Yasir Al-Rumayyan, governor of PIF, are believed to have been named among prospective directors. Al-Rumayyan is expected be chairman of Newcastle if the deal is completed. Under League rules Jamie Reuben would have to resign as a director of Queens Park Rangers so that he could also join the board.

It is understood that contact was made several days ago and it may take up to a month for the Premier League, which is under huge pressure because of the coronavirus crisis, to conduct checks to ensure the funding is in place and the principals pass the owners and directors test. However, even if the deal is signed no announcement is expected before then.

The move towards concluding a deal is a surprise, not least because of the uncertainty created by the effects of the pandemic, with all football suspended. The financial implications are significant, although Newcastle fans will be hugely relieved if the takeover is agreed and Ashley’s ownership finally ends. It will be one of the biggest takeovers in British football.

Talks had intensified since the start of this year with the hope that Ashley could finally be persuaded to sell Newcastle, though negotiations have been problematic.

The consortium, which code-named its plans “Project Zebra” because of Newcastle’s black-and-white stripes, has high hopes of creating a sporting project around the club, with investment in the academy and training ground as well as first-team squad, and in regenerating the area.

Staveley, the financier brokering the deal, has been trying to buy Newcastle since October 2017 and had a series of bids rejected by Ashley but it appears that the game-changer is the involvement of PIF, which is chaired by Saudi Crown Prince Mohammed bin Salman, and the vast backing that could bring.

The Saudis have been considering how best to make a move into football for some time and have looked at other clubs, but regard Newcastle as one with huge potential. Questions have been asked as to why, with their wealth, the Saudis want to bring in minority partners but it is not unusual for them to structure deals in this way.

The PIF fund is central to Saudi Arabia’s “Vision 2030”, a plan spearheaded by Prince Mohammed to diversify the economy away from oil and is also the driving force behind the country’s ambitions to develop new tourist and entertainment industries.

David Reuben established Reuben Brothers with his brother Simon. Their fortune was founded on aluminium and mining in Russia and Afghanistan but they have diversified by investing in UK property, including Millbank Tower in central London.

Jamie Reuben, 33, who is a friend of QPR chairman Amit Bhatia, is a keen sports fan and joined the Championship club’s board two years ago. He has become the public face of the business which is already also developing a six-acre city centre site in Newcastle. The Reubens wealth easily eclipses that of Roman Abramovich although they, and PCP, will be minority partners if the deal is agreed. Ashley bought Newcastle for £134.4million in 2007 and the Sports Direct owner has proved an unpopular owner at St James’ Park. Newcastle are 13th in the Premier League under Steve Bruce but have been relegated twice from the top-flight during Ashley’s reign with the businessman accused of failing to invest by supporters.

Staveley’s ability to buy Newcastle has been questioned despite an apparent series of proposed bids.
 

ukrocks0007

Vital Squad Member
Ahhhhh
The Fakeover : part 6
Staveley Returns

Why now? Funny timing, in the middle of a global pandemic. Uncertainty over what is going to happen to the current season. Every other fakeover saga dragged out exclusively through transfer windows to avoid spending money.

Now it looks like he's in one hell of a hurry to sell up?

Of course, Ashcunt has managed to piss off the government and the entire country (possibly others) so it's not just NUFC fans who hate him. Made a grovelling apology over the treatment of his workers.

Perhaps he is running scared of the hopefully impending and potentially business ending backlash he will receive after showing everyone his true colours.

Still think it's bullshit!
 

PieMag

Vital 1st Team Regular
Fascinating how we pick and choose when the media are lying.
Even more interesting is the media's confidence in the stupidity of the masses.
 
You do wonder if and it is always a big ‘IF’ the money now is needed more than ever to support his other business.

So 340 million is quite significant to him. Probably puts the buyers in a stronger position.

Straight up payment in full no add ons, done and dusted in a couple months, money in the bank.

He has a lot more to lose if SD goes tits up

We can all live in hope I suppose
 

Paul Kannell

Vital 1st Team Regular
At the risk of being gullible through sheer hope maybe now is the obvious time. Whilst his online tat business ticks over in the current climate, St James’ just sits there, neither generating match day revenue nor giving him free advertising across the world. He could be having nightmares about this.
 

keggy_keagal

Vital 1st Team Regular
I'll only believe it when the club's sold. Anyone can claim the Premier League has been informed as the Premier League never confirm or deny in those situations. It's a perfect time to "leak" supposed sports stories to the press as they're at the stage where they're so desperate for content they're reporting on people playing Fifa.

I will say that Jason Burt is usually a very credible journalist and I don't doubt that he's been told what he's been told. Strange that it's not Luke Edwards as it's his paper and his beat. Of course Burt operates from London as does a certain owner and p.r. guru .
 

keggy_keagal

Vital 1st Team Regular
Not got a subscription for The Athletic but George Caulkin reckons this could be on.
George has been close to Staveley and was given the inside track last time she had a punt at getting the club. For me he's the best journalist to cover Newcastle United. If he's alluding to progress it's a good sign. It's never done til it's done though !
 

Mcnamee67

Vital Football Hero
I can't get it out of my head that it is just a ploy to get supporters to buy or renew season tickets under the pretence that the takeover will happen. Surely it's nothing to tell him to swivel. FFS don't buy!
 
There's nee staff left at the ground to buy tickets from or man the website so we're safe in that extent.

Totally typical that this could well happen and we cant even stock up with drink from the shop due to the shortages etc
 
From The Times.

The Times understands that Newcastle officials have sent paperwork to the Premier League outlining the proposed takeover of the club by the Public Investment Fund (PIF) of Saudi Arabia, a move that is seen as significant.
 

PieMag

Vital 1st Team Regular
From The Times.

The Times understands that Newcastle officials have sent paperwork to the Premier League outlining the proposed takeover of the club by the Public Investment Fund (PIF) of Saudi Arabia, a move that is seen as significant.
Ahh but did they confirm the papers were sent by pony express ?