In January’s arbitration, Newcastle will hope they can overcome the key issue that is stopping PCP Capital Partners from completing a takeover.
We found out during the CAT hearing that the delayed arbitration will start on January 3rd, and could take just over a week to be completed.
The Premier League’s legal representative also stated that if arbitration rules that the Saudi state are separate to PIF then the takeover will be approved.
It’s as simple as that. Or is it?
There is one hurdle preventing Newcastle United becoming the richest club in the world. And it’s a hurdle they may struggle to overcome.
Telegraph reporter Luke Edwards has summed up the issue on Twitter. While he’s a contentious figure for some Newcastle fans, it’s hard to argue with him on this point.
Difficult to see how Newcastle takeover issue can be resolved
How are they going to prove that the Kingdom of Saudi Arabia and the Public Investment Fund are separate? If they can’t, there seems no chance of this deal proceeding.
It’s been an issue all along that still hasn’t been rectified. As Edwards says, it was an issue last summer as well.
Mohammed Bin Salman is the Crown Prince of Saudi Arabia. He is also the chairman of PIF, who would own 80% of Newcastle United. The controversies involving Bin Salman make it seemingly impossible for him to pass the Premier League’s Owners’ and Directors’ test.
While the buyers may claim he won’t be running things, he is still the chairman of the entity that will own the majority of the club.
From the outside looking in, it’s hard to see how the issue of separation can be overcome. And surely the consortium should have known this would be an issue?
While the takeover saga is far from over, the one key problem still remains. Arbitration can be the solution, but it is unclear how.
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