Newcastle United fans continue wait eagerly for an update on the proposed takeover.
As the Magpies tumble towards the relegation zone, the limbo behind the scenes continue.
Everyone is waiting to see what will happen with the club’s legal battle. According to the Athletic, it is hoped that arbitration could be completed this month. However, that is not a guarantee.
But as the prospective buyers wait for the chance to reignite a deal, they have continued to flex their financial muscles.
There are three components to the proposed takeover: PCP Capital Partners, the Reuben brothers and the Saudi Arabian Public Investment Fund, with the latter looking to own 80% of the club.
PIF’s involvement is both tantalising and problematic. If they weren’t involved, this deal probably would have been done by now. However, it might have even been possible in the first place.
The financial might of PIF is what could take Newcastle to the next level, to heights we’ve never seen.
Their most recent investment is another example of how wealthy they are.
PIF have got their fingers in a lot of pies, one of which is gaming. And they have recently added to their stake in the gaming industry.
As reported by Al Jazeera, they have spent $1.1billion on 7.4million shares in EA, as well as purchasing 14.9million shares in Activision Blizzard for $1.4billion.
On top of that, PIF have also increased their stake in Take-Two, at a cost of $826million.
That means they have invested $3.3billion in total. That equates to £2.37billion.
While we’ve got no idea what kind of money would be available to Newcastle United should a deal eventually go through, this is certainly an indication of what could be.
For now though, we just have to hope that arbitration is concluded soon and reopens the door for a takeover to be completed.
Most fans aren’t bothered about the financial power of our prospective owners. We just want Mike Ashley to leave.
Until a deal happens though, we remain a club that is battling relegation yet again under the ownership of Ashley.