Mobile Contact: +2348141689216, +23481534800000 Whatsapp No.: +2348141689216
User Login Panel
We found that you are currently not logged in. Please kindly login below
Note: Passcode is case sensitive
I don't have account yet, kindly register now. Is free! Register

https://www.emmason247.com.ng/ads/ad.html
Reliable Web Hosting in Nigeria by DomainKing.NG
Home>Blog & News>sport
Disclaimer: Any post found here on Emmason247.com.ng is of the author's view. So, in regard to this; we are not liable for any issues that may arise.
By Isaiah Ozadhe/Sport/Friday, July 31, 2020

Newcastle Uniteds 300m Takeover bid Fails as PIF Syndicate Backs Out

                              
                            
Premier league club Newcastle United's proposed £300m takeover bid by Saudi Arabian syndicate including Saudi Arabia's sovereign wealth fund PIF, PCP Capital Partners and Reuben Brothers has has been pulled out.
Newcastle logo
On 30 July 2020, after an unending wait for clarifications by the English Premier League Football Association, the Saudis announced that they will be backing out of the deal: "As an autonomous and purely commercial investor, our focus was on building long-term value for the club, its fans and the community as we remained committed to collaboration, practicality and proactivity through a difficult period of global uncertainty and significant challenges for the fans and the club. "Ultimately, during the unforeseeably prolonged process, the commercial agreement between the Investment Group and the club's owners expired and our investment thesis could not be sustained." The Takeover which was widely criticized because of Saudi Arabia's unfavorable human rights history would have seen a lot of investments that would have undoubtedly made made Newcastle a force to be reckoned with in European football in a few years time. Recall that such takeovers at English Premier league side Manchester City and French side Paris Saint German coincided with the evolution of the clubs to Giants in European football. The PIP whose chairman is Crown Prince Mohammed bin Salman earlier this year had a £300m takeover bid accepted by Newcastle owner Mike Ashley but received a lot of backlash because of their links with the Saudi Arabian state. One of the people that criticised the takeover was Hatice Cengiz - the fiancee journalist Jamal Khashoggi who was aledgedly murdered by the Saudi Arabian state. Because of the many backlashes received, the Premier league delayed the takeover as their lawyers struggled to look at the links between the PIF and the Saudi Arabian Government. Fans of the Magpies will be gutted as they were already imagining life under a new owner following years of under - investment by current club owner Mike Ashley. Caveat: image for illustrative purpose
likeLike(1) | CommentComments(0) | View Views(394) |
Please promote us by sharing Emmason post. Sharing is announcement. Share to any of the social networks.
And, do not forget to Like and Comment cos this boost Emmason Community content writers appetite


Add your comment


Other Posts
Lionel Messi Resumed Training At Barca First Time After His Intention Of Leaving The Club
Arteta Wins Two In Two
Maguire To Be Tried In Court Today
UnderstAnding Top Bet9ja Betting Codes And Their Meaning
Barcelona Midfielder Test Positive For Covid19
Navas Dedicates Europa League Trophy To Late Perta And Reyes
I Will Speak For Myself - Suarez Blasts Ex-Lawyer Comments About His Future
Sevilla Make History With 6th Europa League Trophy
NewcAstle Uniteds 300m Takeover Bid Fails As PIF Syndicate Backs Out
Pogba Tests Positive For Covid-19
Everton Close To Three Midfield Signings
Barcelona President Refuses To Meet With Messi - Wants Full 624m Dollar Release Clause
Chelsea Sign Thiago Silva
Lazio Sign Ex-Liverpool Goalkeeper Reina
Chelsea Complete Sarr Signing
I trIed To Run AwAy wIth A hAndcuff - MAguIre SpeAks Out On CIrcumstAnces SurroundIng Arrest
Pogba Agent Confirms Manchester United Stay
Bayern Defeat PSG To Win 6th UEFA Champions League
Barcelona Board Members Want Messi To Leave After Koeman Meeting
Bayern Ease Past Lyon To Reach Champions League Final
Aubameyang Gives Arsenal 14th FA Cup Title
Messi To Stay At Barcelona As Koeman Will Become New Coach
PSG Brush Leipzig Aside To Reach First Ever Champions League Final
Juventus President Rubishes Ronaldo Exit Talks
Real Madrid Knocked Out Of CL By Manchester City
Juventus Knocked Out Of CL Despite Ronaldo Stunner
Napoli Sign Nigeria Striker Victor Osimhen For 50m Euros
Lazio Striker Ciro Immobile Wins Two Golden Boots.
Super Eagles Eye Arsenal Youngster Saka
Manchester City Set To Complete Nathan Are Signing For 41m Pounds Deal