Liam Kennedy has dropped some worrying insight from Newcastle United takeover sources.
The Lowdown: Delays
According to The Chronicle, the Competition Appeal Tribunal (CAT) claim over the stalled takeover deal between Mike Ashley and the Kingdom of Saudi Arabia (KSA) group has now been delayed until September.
This follows the delay of the separate arbitration case filed by the St. James’ Park faithful against the Premier League over their decision-making process with regards to the failed bid, which is now not due to take place until early next year.
The Latest: Takeover insight
Writing in his latest piece for Newcastle World, Kennedy has shared that the proposed takeover in the North East by the KSA consortium is now ‘hanging by a thread’, according to sources.
It is thought that the recent legal delays have potentially further strained relationships, and the parties involved in the consortium are said to be shocked at the news that the arbitration hearing has been delayed until early 2022.
The Verdict: Worrying
It is certainly worrying to hear that the proposed takeover could well be on the cusp of collapse, especially given the constant delays that the consortium have had to face.
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They have had to be very patient with the top flight up until this point, and the cases should give a much clearer picture over the direction of where the deal is heading.
Still, one can understand if their patience is slowly dying out, and so the North East club need to make sure that there are no further delays to both cases and that they can be finalised swiftly.
In other news, find out who NUFC are now ‘on the lookout’ to sign here!
