It was like a soap opera in the northeast of England for the past year and a half. Their fans were excited by the news that would rid of their biggest annoyance, the hated owner Mike Ashley. And not only that, but the club was going to be owned by a wealthy investment group that’s willing to turn the club into a footballing heavyweights. But it failed to materialize – until now.News emerged on Wednesday afternoon that the Saudi Arabian takeover of Newcastle United is close to being agreed – with confirmation from the Premier League imminent.”we aren’t here to take part, we are here to take over” #nufc pic.twitter.com/ndINvQxfu0— ً🇸🇦 (@ConnorNUFC_) October 6, 2021 Amanda Staveley, a British businesswoman, who will control a 10 per cent stake at NUFC, has sparked the supporters’ imagination whenever she’d spoke to the media. She and her rich backers are determined to transform the club that suffered two relegations to the Championship during Ashley’s maligned 14-year reign. During those years, the black and whites were reduced from Champions League hopefuls to perennial relegation candidates. Now it could all change dramatically.The deal was supposed to happen in the first half of 2020, but it was put on hold after a series of legal problems – with the main one being the concern that the Saudi government would interfere with the club’s ownership through their influence within the Public Investment Fund, the organisation offering to buy 80 per cent stake at the Premier League club.17 October 18.30: (3.80) Newcastle (3.50) Tottenham (2.10)The Saudi state’s sovereign wealth fund overseen by Crown Prince Mohammed bin Salman provided assurances to the Premier League that the Saudi state would not be involved in the day-to-day running of Newcastle. In addition, Saudi Arabia has lifted its four-year ban on the TV network beIN Sports to allow Premier League matches to be broadcast legally again – as well as also promising to close pirate websites operating in the country.According to various British media, an agreement between the Premier League and the consortium was found prior to the news emerging on Wednesday, despite the two parties being set for arbitration on 3 January 2022. It remains to be seen if there will even be an arbitration. It certainly doesn’t look necessary as things stand.BREAKING: The Newcastle United takeover is expected to go through after settlement of piracy issues between Saudi/beIN. Arbitration may not be needed now piracy is resolved. #NUFC [via @CraigHope_DM] pic.twitter.com/oAotQDmkav— Footy Accumulators (@FootyAccums) October 6, 2021 The Saudi Arabian state has been accused of human rights abuses, but with the majority owner PIF is deemed a separate entity that is no longer an issue in the Premier League’s view.
