A petition online has been signed by over 70,000 Newcastle fans. It is regarding the blocked takeover of the club by some Saudi Arabian businesspeople. The deal was supposed to be worth around £300 million.
The deal was extremely publicised and reported in the media, despite their best efforts to keep it under-wraps. Many articles were written about it due to leaks of information and conversation. It seemed as if it was going to go through at the beginning however everything seemed to go quiet for a few weeks. This indicated a few issues.
It all began 4 months ago. A takeover of Newcastle United backed by Saudi Arabia’s Investment Fund. They eventually have become impatient and have gave up on waiting so have decided to withdraw from the takeover.
Over the 4 months, the Premier League were scrutinising every nook and cranny about the buyers to see if they passed the ‘Fit and Proper Owners test’. Many issues arose such as the countries human rights record and handling of TV piracy issues.
The group bidding to take over Newcastle released a statement saying: ‘With a deep appreciation for the Newcastle community and the significance of its football club, we have come to the decision to withdraw our interest in acquiring Newcastle United Football Club.
We do so with regret, as we were excited and fully committed to invest in the great city of Newcastle and believe we could have returned the Club to the position of its history, tradition and fans’ merit.
Unfortunately, the prolonged process under the current circumstances coupled with global uncertainty has rendered the potential investment no longer commercially viable.
To that end, we feel a responsibility to the fans to explain the lack of alternatives from an investment perspective.’
Newcastle have released a statement themselves too. They said that ‘Mike Ashley is 100% committed to this deal’ but they must focus on ‘supporting Steve Bruce in the transfer market and on the preparations for the new season.’
The Premier League has not written a statement about the collapse of the deal. Newcastle fans are wanting an independent investigation or explanation from them to see what went wrong and what was happening behind the scenes.
The petition has been endorsed by former Newcastle players like Rob Lee. They have been asking supporters to sign it.
The group who were going to buy Newcastle have since been linked with Liverpool, Tottenham Hotspur and AC Milan. This could just be the media making things up for clickbait but there could be some truth in it as they did seem keen in buying a football club.
Only time will tell…