During Premiership break for translation Covid-19, grave tone was buzzing with news of Prince Mohammed bin Salman Arabs want to buy Newcastle through an intermediary company. For a while, it was thought that the Premier League has added a new giants but finally broke down story.
Newcastle acquisition of Prince Saudi official bust
The Daily Mail reported that the Investment Fund by the Saudi prince announced formally withdraw from the acquisition of Newcastle for 300 million pounds. The cause is given by the British Government as well as Premier League organizers were "deliberately prolonged the time of the takeover."
"Unfortunately, to announce that the takeover of Newcastle has been unable to accomplish. Prolonged takeover process, along with the economic problems caused by Covid-19 potential investments that are no longer commercially viable.
Takeover process was prolonged and the agreement between the investor and the management of the club has expired. Investment fund can not maintain the agreement when even the future of the league is also not clear. " As expected, the Investment Fund of Saudi Crown Prince will occupy 80% of the shares and brokerage company in Amanda Staveley deal will buy the rest from the chairman Mike Ashley.
According to the British press, the takeover process is Newcastle prolonged by successive political scandal of Prince Mohammed bin Salman Arabs. The charges related to murder, fraud, abetting pirates ... are constantly appearing. Many petitions block this deal was presented to the British Government that the organizers as well as Premiership forced to question the transparency of the deal.
Investment Fund of Saudi Crown Prince withdrew means Newcastle still owned by Mike Ashley. President 56 Britons to be "interest" in the £ 17m deal. This is the amount of funds invested Arabian Prince but current deposit, lease cancellation and Mike Ashley was automatically entitled to this money.
As such, can not catch the Premier League giants adds a potential and Newcastle fans still can not dream about the day the team "life changing." Steve Bruce will also coach was delighted with this information by his chair at the club will still be guaranteed to at least early next season.