Newcastle takeover moves step closer with Premier League ‘assessing’ new chairman Yasir al-Rumayyan
NEWCASTLE UNITED’S takeover has moved a step closer with the Premier League reportedly “assessing” the prospective new chairman.
Yasir Al-Rumayyan is part of the Saudi Arabian Public Investment Fund who, along with Amanda Staveley of PCP Capital Partners and the Reuben brothers, hope to complete the £300m purchase.
According to the Newcastle Chronicle, only “cold feet” from current owner Mike Ashley will hold up the deal.
And things are starting to gather pace with the Premier League now checking the credentials of 50-year-old Al-Rumayyan.
Little is known about Al-Rumayyan aside from his business successes in the banking world.
He is the governor of PIF, with the company having offices in London, New York and San Francisco.
But there could be some hold-ups to the fit and proper testing – because of pirate TV.
The huge-money move is being funded by the Saudi royal family including Crown Prince Mohammed bin Salman.
But it could hit obstacles before a deal goes through because of their alleged involvement in pirate TV.
SAUDI PIRATE BROADCASTING
According to the Times, there has been an ongoing row involving the Premier League following the alleged Saudi involvement in pirate broadcaster BeoutQ.
The channel allegedly rips content from Qatari-based channel BeIn Sports and sells to customers at a discounted price.
Last July, the Premier League joined forces with Fifa and Uefa to take action against BeoutQ and called the Saudi government to take “swift and decisive action.”
If the takeover eventually gets rubber-stamped, SunSport reported how ex-Toon boss Sam Allardyce fears for manager Steve Bruce’s future.
Bruce was appointed by Mike Ashley at the start of the season but his arrival at St James’ Park was seen as an underwhelming choice to replace Rafa Benitez.
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The 59-year-old has guided the Magpies to 13th in the table but Big Sam believes it might not be enough to keep his job.
Allardyce told talkSPORT: “It’s going to be very difficult for Steve. I’ve experienced new takeovers twice — once at Blackburn and once under Mike.
“I wasn’t his man and I can understand that. Steve must be very worried from that point of view.”