Newcastle takeover live: breaking news with Saudi-led consortium set to close deal for Premier League club

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October 7, 2021 at 03:03 EDT

A big day ahead ….

You are not the only one who gets up early and early.

Athleticism George Caulkin was on his morning run around St James’ Park.

Charlotte harpur·

Junior Editor, News

October 7, 2021 at 02:52 EDT

Good morning!

Hello,

Welcome to our live coverage of the potential takeover of Newcastle United.

It has been a whirlwind for the past 24 hours. We will keep you updated with the latest news, including information from Athleticism Newcastle journalists George Caulkin and Chris Waugh.

Charlotte harpur

Charlotte harpur·

Junior Editor, News

October 6, 2021 at 5:51 p.m. EDT

What would the new owners get into?

A vision for the future, new hires, a training ground and Steve Bruce’s future … all of the issues that potential new owners face in Tyneside.

Written in 2020, the words below still ring true today.

Luc Bosher

Luc Bosher·

Junior Editor, News

The 10 challenges facing anyone buying Newcastle United

GO FURTHER

The 10 challenges facing anyone who buys Newcastle United

October 6, 2021 at 4:33 p.m. EDT

Alan Shearer has a little fun

At times like this, I guess you have to …

Luc Bosher

Luc Bosher·

Junior Editor, News

October 6, 2021 at 14:12 EDT

The last…

… of our man George Caulkin.

Luke Brown

Luke Brown·

Editor-in-chief, News

October 6, 2021 at 13:55 EDT

Why was beIN banned in Saudi Arabia?

In 2018, Qatar filed a complaint with the World Trade Organization (WTO) claiming that Saudi Arabia was preventing beIN – a Qatari company – from broadcasting in the kingdom.

The beIN company subsequently launched an international investment arbitration against Saudi Arabia for damages totaling more than $ 1 billion.

Qatar has also accused Saudi Arabia of failing to take effective action against alleged piracy of beIN content by beoutQ, a pirate broadcaster.

Saudi Arabia’s decision to revoke its ban on beIN Sport will result in the beoutQ operation being deactivated. The international investment arbitration of beIN Sport will also come to an end.

Saudi Arabia has also pledged to remove all pirate websites when notified by beIN.

Last year, the WTO ruled that Saudi Arabia helped break international piracy laws in connection with beoutQ. Saudi Arabia has previously denied aiding in Operation beoutQ and insisted that there was no link between its government and the alleged hack.

Luke Brown

Luke Brown·

Editor-in-chief, News

October 6, 2021 at 12:38 EDT

Why are Newcastle fans so desperate for change?

Why are Newcastle fans so desperate for change?

Newcastle have made another disappointing start to their Premier League campaign and remain winless after their opening eight games of the 2021-22 season.

This has left head coach Steve Bruce firmly in the crosshairs with 94.3% of the more than 5,000 respondents to a poll conducted by the Newcastle United Supporters Trust calling for his resignation.

Luke Brown

Luke Brown·

Editor-in-chief, News

October 6, 2021 at 12:25 EDT

How we got here

Last summer, the consortium trying to buy Newcastle United were set to issue an explosive statement. After 16 weeks of inertia, with the Premier League sifting through its test of owners and managers, club fans simmering and worrying, the gloves would come off. “Enough is enough,” they would say; enough time, enough waiting. Make your decision.

At the time of the statement, less than 48 hours later, the Premier League had no further decisions to make. It had been taken for them, ending the most controversial and tiresome takeover in the division’s history. Saudi Arabia’s Public Investment Fund (PIF), Amanda Staveley’s PCP Capital Partners and RB Sports & Media have announced their withdrawal from the process “with regret”.

So how did we come to this? And what has changed?

Luke Brown

Luke Brown·

Editor-in-chief, News

GO FURTHER

‘The gloves were off’ then the deal was canceled: why Newcastle’s takeover collapsed

October 6, 2021 at 12:13 EDT

Mike ashley

Over a period of several months in 2020, Athleticism spoke to colleagues, peers, rivals, staff and fans of the Newcastle owner, a man who bought the club in 2007 without doing due diligence and with the self-proclaimed ambition to ‘have fun a little “.

Ashley loves to play, but the fun stopped a long time ago.

Luke Brown

Luke Brown·

Editor-in-chief, News

Then came Mike Ashley

GO FURTHER

Then came Mike Ashley

October 6, 2021 at 11:54 a.m. EDT

The role of beIN

The role of beIN

beIN Sports has been one of the recovery’s biggest opponents. Network chief executive Yousef al-Obaidly wrote to top club presidents last year about the deal, urging them to “fully question” the consortium.

In the letter, Al-Obaidly accused the Saudi government of “facilitating the nearly three-year theft of the Premier League’s commercial rights – and your club’s commercial income – through its support for the large-scale pirate service beoutQ” .

Thus, a thaw in relations between Qatar and Saudi Arabia on this issue therefore removes a major obstacle that helped prevent the takeover from taking place.

Luke Brown

Luke Brown·

Editor-in-chief, News

October 6, 2021 at 11:43 am EDT

What is FIP?

The Public Investment Fund (PIF), established in 1971, is Saudi Arabia’s sovereign wealth fund.

It has an estimated total asset value of around $ 500 billion.

PIF has stakes in Live Nation, Boeing, Facebook, Citigroup, Disney and Bank of America, oil company BP and Uber.

The organization is chaired by Mohammad bin Salman, with Yashir bin Othman Al-Rumayyan as governor.

Luke Brown

Luke Brown·

Editor-in-chief, News

October 6, 2021 at 11:23 am EDT

Critique of the takeover

A recent poll by the Newcastle United Supporters Trust (NUST) found that 93.8% of its members were in favor of the takeover, but Saudi Arabia’s participation in the offer raises important questions about the takeover. geopolitics, sport and human rights.

The deal has been criticized because of Saudi Arabia’s human rights record, while Amnesty International has previously warned the Premier League against becoming a “patsy” for Saudi attempts to clean up its country. picture.

The fiancee of murdered journalist Jamal Khashoggi has also urged the Premier League to block the Saudi takeover.

Luke Brown

Luke Brown·

Editor-in-chief, News

Explained: Why do Saudi Arabia want to buy Newcastle United?

GO FURTHER

Explained: Why do Saudi Arabia want to buy Newcastle United?

October 6, 2021 at 11:09 am EDT

Who is Amanda Staveley?

Who is Amanda Staveley?

Amanda Staveley is a British businesswoman with close ties to the Middle East.

She played a leading role in the reigning families of Abu Dhabi and Qatar, making a £ 7.3 billion investment in Barclays in 2008. PCP Capital Partners, her firm, represented Sheikh Mansour of the Abu Dhabi royal family.

Staveley was also involved in his Manchester City takeover in the same year.

Luke Brown

Luke Brown·

Editor-in-chief, News

Amanda Staveley: The Premier League has made it so difficult.  Impossible.  It's ridiculous

GO FURTHER

Amanda Staveley: The Premier League has made it so difficult. Impossible. It’s ridiculous

October 6, 2021 at 10h58 EDT

be in sports

The announcement on Wednesday that beIN Sport, the official Premier League broadcaster in the Middle East, will no longer be barred from operating in the kingdom means the buyout is about to be finalized.

Saudi Arabia today reversed its decision to ban beIN Sport – the official Premier League broadcaster in the Middle East – from operating in the country.

And beIN later said the ban had been its “singular objection” to the club’s takeover from the Premier League.

Luke Brown

Luke Brown·

Editor-in-chief, News

October 6, 2021 at 10:47 am EDT

Hello

Hello

Welcome to our live coverage of the extraordinary development of today’s Newcastle United takeover.

From Matt Slater: The Saudi-funded consortium’s offer for Newcastle United is expected to be successful in the near future after the beIN Sport ban in the Gulf country is lifted.

An 18-month-long takeover saga that has seen the club embroiled in legal disputes with the Premier League is now closer to a resolution and the group, led by British businesswoman Amanda Staveley , could soon end Mike Ashley’s 14th birthday. -year of ownership of Newcastle.

The announcement on Wednesday that beIN Sport, the official Premier League broadcaster in the Middle East, will no longer be barred from operating in the kingdom means the buyout is about to be finalized.

Read the full story here.

Luke Brown

Luke Brown·

Editor-in-chief, News



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