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Sport Liam Kennedy drops insight from sources on timescale of Newcastle takeover case - report

00:35  10 may  2021
00:35  10 may  2021 Source:   footballtransfertavern.com

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Liam Kennedy has been speaking on the latest edition of #NUFC Matters with Steve Wraith about all things relating to Newcastle United. One of the main points that he spent some time on was the proposed takeover of the Toon by PCP Capital Partners, PIF and the Reuben brothers that was withdrawn in July. The Premier League’s owners’ and directors’ test was supposed to be completed by the end of April, and here we are in December without a resolution reached on the takeover .

Liam Kennedy has been speaking on the latest edition of #NUFC Matters with Steve Wraith about all things Newcastle United. One of the points that he spent some time on was the ongoing takeover saga at the club. The bid from PCP Capital Partners, PIF and the Reuben brothers was first agreed in April. It was withdrawn in July before the group tried again in September behind closed doors, and now here we are in December, and the legal teams are now trying to bring the talks to a positive conclusion.

Liam Kennedy has dropped some insight from sources on a potential timescale for Mike Ashley’s latest Newcastle United takeover case.

a large ship in the background: General view outside of St. James' Park © Provided by Transfer Tavern General view outside of St. James' Park

The Lowdown: Ashley launches another legal case

As per the Shields Gazette, Ashley and the St James’ Park club have launched another legal case against the Premier League, this time accusing them of what they believe to be anti-competitive behaviour in their decision-making process on the proposed deal from the Kingdom of Saudi Arabia (KSA) consortium.

This is separate to the other case that the chief executive of Sports Direct has held against the league over the failed takeover, which is pending an arbitration hearing.

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Liam Kennedy has been speaking on a recent episode of #NUFC Matters with Steve Wraith and has been going into detail on the proposed takeover of Newcastle United. “Simply because the transfer of funds through different currencies, through different banks, but if the Premier League were suddenly to turn around and say yes tomorrow [Wednesday], we would probably have a new owner at the football club by this time next week.” It seems as if Kennedy believes that the final 1% of the deal is Premier League approval, and if that were to arrive, the whole process could be completed a week later.

The Latest: Potential timescale for case

Writing in his latest piece for the Shields Gazette, Kennedy has outlined that proceedings for the case could reach a court date in less than six months, depending on the outcome of an impending hearing, according to sources.

The legal representatives of Newcastle, along with those of the Premier League, will also take part in a case management conference to determine whether their case will be expedited, and this should happen within the next seven to 10 days.

The Verdict: Premier League under pressure

The Premier League have certainly been put under pressure by Ashley and the Tyneside club in what is now two legal cases being launched against them relating to the failed takeover bid.

Nonetheless, the results of both cases should be quite interesting to see and will surely give a clearer understanding over where the potential takeover of Newcastle United is heading.

In other news, find out what Lampard-likened ace is wanted by Newcastle!

Source

'Danger for the PL', 'Walls are closing in' - Many NUFC fans react to takeover-related news .
A lot of Newcastle United fans have flocked to a post from NUFC 360, which has relayed news from The Shields Gazette regarding Mike Ashley’s latest legal challenge over the proposed takeover. The Toon’s owner announced last week that he had launched a new case against the Premier League, and new details have emerged which […]The Toon’s owner announced last week that he had launched a new case against the Premier League, and new details have emerged which confirm that Newcastle are likely to hear soon about how long the CAT (Competition Appeal Tribunal) will take and that fans might even be able to watch it live.

usr: 5
This is interesting!