One day the Newcastle takeover saga will be over. But today is not that day.
However, we might have an answer this summer. That is when it is reported that arbitration could be completed.
If the result goes in favour of Mike Ashley, the takeover should be able to go ahead.
If the result goes against Ashley, the deal would surely be dead in the water.
PCP Capital Partners’ proposed takeover of the Magpies has been going on for more than a year now.
They agreed a deal to buy the club last April, and Ashley reportedly remains committed to selling to Amanda Staveley’s consortium.
The issue with the takeover surrounded the involvement of the Public Investment Fund. That is why the Premier League delayed the deal, forcing PIF to withdraw last July.
Ashley is now in a legal battle with the Premier League, as he looks to resurrect his golden ticket out of St James’ Park.
Positive takeover report? Not quite
According to Arab News, ‘people close to the takeover’ believe arbitration will go Ashley’s way, allowing PCP to buy the club before the start of next season.
While this all sounds very positive, fans must not get carried away.
Why wouldn’t ‘people close to the takeover’ believe arbitration will go Ashley’s way? Why wouldn’t they expect the takeover to be completed this summer?
They will obviously be positive, as they believe the deal should have been passed last year.
The reason arbitration is happening is because it is believed that a deal can be resurrected.
This kind of confidence from people close to the buyers isn’t new. They had the same confidence last year, before the deal stalled.
Hopefully arbitration brings good news this summer, and Newcastle fans can finally wave goodbye to Ashley.
But between now and then, there will no doubt be a million and one different stories trying to decipher which way the takeover will swing.
Arab News’ report may sound positive, but sadly it does not change anything. The wait continues.