According to the Chronicle, Newcastle United owner Mike Ashley is confident that PCP Capital Partners will wait to find out the outcome of the club’s legal battle after the latest takeover delay.
July could have been a month of resolution. Arbitration was scheduled to take place, which could have given Ashley a route out of St James’ Park.
This is devastating news for Toon fans, who had hoped that new owners were on the horizon.
Instead, Ashley is going nowhere for the time being, and must invest in a squad that desperately needs reinforcements.
Of course, arbitration is only one of Ashley’s legal battles against the Premier League.
There is also the CAT case, which the Premier League are attempting to have thrown out.
They have had two extensions to provide evidence, and the Guardian claimed on Tuesday that developments are imminent. But how imminent is imminent?
Confident Mike Ashley still believes in Newcastle takeover
The CAT case won’t be a quick one. The Athletic claimed in May that it could take between six to 18 months to be concluded.
Meanwhile, we now have to wait at least another six months for the arbitration hearing.
Despite the latest delay in a saga that simply refuses to end, Ashley is reportedly still confident. Sadly, that’s a word that has been thrown around a lot during this takeover saga.
The Chronicle state that the Toon owner believes the buyers are going nowhere, and will wait to see the results of his legal battles.
They add that the wannabe owners are ‘undeterred’ by the latest developments.
That’s despite the fact Amanda Staveley recently told TalkSPORT that a deal ‘will’ happen.
Will it? And if so, when?
They say good things come to those who wait, but this takeover saga has been going for more than a year now and there is still no end in sight.