Premier League: Newcastle United’s £300m takeover is moving along swiftly

Newcastle’s’ £300m takeover from Mike Ashley to Amanda Staveley is said to be “close” to being completed. This after new documents have come to surface in the deal.

As time passes, things move swiftly in the long-overdue Newcastle buyout. The Magpies are currently negotiating a takeover deal said to be in the range of £300 million.

As of this write-up, new documents reveal owner Mike Ashley has reached a point in the deal where the two parties are in the stages of a “charged agreement”.

A Newcastle United takeover is very close after new documents show that owner Mike Ashley has entered into a charge agreement with potential buyer Amanda Staveley.

Financier Staveley is leading a bid which involves Saudi Arabia’s sovereign wealth fund and the Reuben Brothers. It is understood to be worth £300m.

The 31-page charge agreement lodged at Companies House lays the legal groundwork for a potential deal to be completed.

The documents include details of £150m related to PCP’s long-running legal case against Barclay’s Bank PLC.

The Premier League have also been informed of the potential deal and are understood to have begun the process of carrying out checks under its owners and directors test. (Via: BBC Sports)

The wait has been long

The wait has been so long for all those who hold the club close to their heart. Jubilation will be taken as an under celebration. One is just unable to exult what it means knowing this could be the year their first love moves forward in life.

If I was to compare it to any distinguished achievement coming up, it would be Liverpool’s potential title-winning season in the Premier League. The fact they’ve been after it for 30 years makes it even more significant than a Manchester or London team winning it.

It took the Reds selling their club to get to this point. If I must say, having a new owner pulling the strings over on the Tyne side is a far better accomplishment during these unconvincing times. Yes, it is a bit difficult to compare, but there is no feeling like a new feeling.

Many years of bluffs

First, it was the aforementioned Amanda Staveley, who was ready to take this bottom-of-the-table team back to its glory days and make them great again. They wanted this club to emulate Man City’s success and become a top contender. It was a miserable failure at the time.

Then came 2019 and it was an Abu Dhabi-based Group ready to throw the bank at greedy tycoon, Mike Ashley. The same deflating outcome took place, no sale was made of the old English side, and another season of heartbreak was upon them with Mike still running the show.

The worst is behind the Toon Army

Thankfully, the worst is behind them. Yes, overnight no success will come like silverware or the world’s most expensive summer signing.

On the contrary, it will take time, patience, and they must buckle up for the long drive ahead which will have speed bumps. However, most importantly they must remain calm to know the most damaging stage in their rebirth is behind them.

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They can look forward to brighter days. If FSG and the Abu Dhabi United Group’s running of Liverpool and Man City, respectively, is anything to go by, then the people of Newcastle have every reason to be optimistic about the near and far future.