Takeover bid still on course
CONSORTIUM NOT TOLD OF ANY POTENTIAL HITCHES AS IT AWAITS THE GREEN LIGHT
NEWCASTLE United’s would-be owners are believed to be confident that there are no links between prospective personnel at Saudi Arabia’s Public Investment Fund and pirate service beoutQ.
The link – which has been mentioned in a World Trade Organisation report – has been suggested as the reason why the deal has not been announced.
The Premier League are continuing to go through the owner and director’s tests but are only at the latter stages.
PIF’s Yasir Al-Rumayyan is expected to lead the way in the takeover deal for the Saudi Arabian side, which is convinced that no links between piracy and the bidding group exist.
It is understood that the Premier League are satisfied with everything they have seen so far from Amanda Staveley, the Reuben brothers and PIF but there remain some questions and some clarification on a few points before the deal can be signed off.
The Premier League have pursued legal action against Saudi Arabia before regarding piracy.
A submission to the US government that beoutQ should be placed on a watchlist has also been reported recently.
The Premier League have refused to comment once again when asked yesterday.
The takeover process is thought to be at the closing stages but the Premier League must consider every angle of the takeover.
Newcastle’s current regime has not acknowledged the takeover so far publicly while Mike Ashley’s closest aides have not briefed anybody from the media.
The situation has left head coach Steve Bruce to field questions on the takeover while the United players, also not informed of any changes, have also been left with an awkward void to fill in terms of communication.
Bruce, who has said he wants to stay on in his current role if a deal does go through as speculation rages on about potential replacements, said last week: “What can I do? The reason I cannot say anything on it is, you (the media) probably know more than me.
“You know what it is? In that respect – great – because then I cannot have any other ideas out there. Whatever is best for Newcastle United is the best for me.” Meanwhile, the World Trade Organisation has responded to questions regarding Saudi Arabia and TV piracy after claims its
Despite reports of further delay to the deal, sources close to the buyout still expect it to be signed off
Lee Ryder
report looking into TV piracy in the Middle East has found the Saudi Arabian government is behind it.
If the claims, which were broken by the Guardian earlier in the week, are true, it could provide a major obstacle to Saudi Arabia’s Public Investment Fund getting the green light from the Premier League to sign their buyout of Newcastle United off.
The WTO confirmed to the Chronicle that a panel has been looking into TV piracy within Saudi Arabia since December 2018 – just months after neighbouring Qatar raised concerns. The purpose of the WTO is to ensure its 164 members trade fairly and do not put any other country at a disadvantage when it comes to business.
The WTO states it does not settle trade disputes which arise out of political conflict – something those in Saudi Arabia may point to given the geopolitics in the region and the ever fiery relationship between the kingdom and neighbouring Qatar.
In a statement to the Chronicle, the WTO stated: “We can confirm Qatar initiated a WTO dispute settlement case against Saudi Arabia in October 2018 regarding the protection of intellectual property rights and that a panel was established in December 2018 to review Qatar’s claims.
“The panel proceedings and panel process remain confidential until the final report is circulated to WTO members.”
The Public Investment Fund is looking to purchase an 80% stake in Newcastle United, with the remaining 20% thought to be split between Staveley and the Reuben Brothers. Despite the delays, sources close to the buying side still have an expectation it will be signed off.