Newcastle United’s Sh45 billion Saudi takeover close
London, Wednesday
The Saudi takeover of Newcastle United is expected to be approved after the state settled its piracy issues with Premier League broadcaster beIN Sports, sources have told Sportsmail.
Those close to the process have indicated that the removal of all forms of piracy in Saudi and the lifting of a ban on beIN Sports being shown in the country should now pave the way for the £300million deal to be signed off.
The takeover was called off in the summer of 2020 when the buyers - led by Saudi’s Public Investment Fund - were unable to prove separation between themselves and the state, headed by Mohammed bin Salman.
Newcastle owner Mike Ashley opened arbitration proceedings against the Premier League earlier this year and that case was set to be heard in January.
However, sources say there is potentially no need for that to take place after news of the piracy issues being settled.
A source told Sportsmail: ‘If all of this had been done 18 months ago, the takeover would have been signed off.
‘The Premier League could not approve a takeover whereby one of its member clubs would be owned by a state it believed to be guilty of piracy against the League and one of its broadcast partners.
‘That was why the buyers had to prove separation from the Saudi state. But that was almost impossible, especially given the revelations about Mohammed bin Salman texting Boris Johnson and pressurising him to influence the deal.
‘Now, though, with the issue of piracy resolved, it is unlikely that arbitration is needed. There is no rule which says a state cannot be connected to the ownership of a football club.
Piracy was, and always has been, the biggest obstacle to this takeover. There is now very little reason for the Premier League to stop the deal going through.’
We understand as recently as last week beIN Sports sent a list of websites to Saudi officials, informing them of ongoing piracy of their product. Within days all of those websites were shut down.
The Premier League have not commented on the latest development.
The Saudi-backed takeover hit the buffers last summer and has been the subject of arbitration and legal dispute since the Premier League failed to give it the go ahead. - Daily Mail
