The proposed takeover of Newcastle is reportedly in fresh doubt due to the Saudi-led consortium failing to provide the Premier League with clarity over the link between the Public Investment Fund (PIF) and the Saudi government.
It is over three months since Newcastle owner Mike Ashley agreed to sell the club to PIF for £300million.
It was hoped that the buyers would smoothly pass the Premier League’s owners’ and directors’ test but it has dragged on for several weeks.
And the apprehension felt by those at St James’ Park has grown with the Telegraph claiming PIF are ‘struggling to satisfy’ the Premier League over who the ownership hierarchy are and who the main decision-makers will be.
The report says that as it stands the deal is “gridlocked” as the Premier League wants greater clarity over the relationship between PIF and the Saudi government.
A source told the Telegraph: “As things stand there is no chance of the takeover progressing in its current form.
“The problem is this, the Premier League wants to know who will be running the club, who will have the final say on decisions, who will negotiate sponsorship deals and so on and so on.
“The PIF has the majority stake but the management structure does not seem to recognise that.
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“That [the takeover] is vitally important. We need clarity. You have to go to town on the Premier League.
“How long do you want? The club needs that clarity. Let’s hope we can do that in the next few days, or week.
“I’m sure there is a shared desire to keep taking the club forward – everybody wants the club to do well.
“As I keep saying, we need some clarity about the situation with regard to the takeover because, if that’s not going to happen, we need to know quickly. That way, we can make sure it is business as usual.”
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