Monday evening brought a Newcastle takeover update that fans have been desperate for. Sadly, it’s bad news.
After PCP Capital Partners failed to buy the club last year, Mike Ashley has been fighting to get the deal back on track.
The Toon owner launched two legal battles against the Premier League, and it looked like one of them was close to a resolution.
It had been reported for a long time that arbitration would take place in July.
The hearing was set to determine whether or not the Public Investment Fund are separate to the Saudi state. That was the issue that stopped the deal going through last summer.
In the build up to the hearing, the club and Amanda Staveley called on the Premier League for transparency. They wanted the hearing to be held in public.
The government were asked to intervene, while some fans travelled to London to protest.
Finally, there has been an update on the takeover saga – but it’s terrible news.
Newcastle takeover update is devastating
In a statement on the club’s website, Newcastle confirmed that arbitration will be delayed until early 2022.
The club wrote: “The main hearing of the arbitration has regrettably now been adjourned until early 2022 due to issues with the disclosure of evidence.”
This is devastating. A takeover was the only reason for hope this summer for Toon fans.
The club have been standing still, stuck in limbo and waiting for a resolution.
Now we are playing catch up, and Ashley will need to invest some money into the squad to ensure it isn’t another relegation battle.
In the aftermath of the update, Staveley’s husband Mehrdad Ghodoussi has commented on Twitter.
Ghodoussi wrote: “There’s only one party playing games here.”
Ghodoussi has been one of the most vocal takeover figures throughout the process due to his presence on social media.
His latest statement is very interesting, as he appears to point the finger at the Premier League once again.
As always, the fans have been left in the dark. We don’t know what has gone on. We don’t really know why the hearing has been adjourned.
All we do know is that, for now, Mike Ashley is going absolutely nowhere.