TRon Posted January 27, 2020 Share Posted January 27, 2020 Why £340m Newcastle United deal adds up for Saudis Given that he has spent more than £400 million on a yacht and £300 million on a chateau in France, Mohammed bin Salman of Saudi Arabia is unlikely to be deterred by the £340 million price tag that has been dangling from St James’ Park since October 2017. The estimated wealth of the Saudi royal family is about £1 trillion, while it was only three years ago that it was announced that the Public Investment Fund, which will finance any takeover of Newcastle United, planned to increase its assets under management to £300 billion. That fund is run by Yasir bin Othman al-Rumayyan, a 49-year-old business executive who is also chairman of Saudi Aramco, the oil company, and is said to be at the forefront of discussions. Yesterday there was still some doubt as to whether the takeover of Newcastle would go through, not least because of anger and frustration on both sides that news of a possible deal was reported on Saturday by the Wall Street Journal, complete with the detail that the British financier Amanda Staveley is potentially involved in the deal. So incensed is Newcastle’s owner, Mike Ashley, by her participation that he has apparently asked to be left alone for a couple of days while he considers whether he wants to proceed. Rumours had been circulating for some weeks. When The Times put news of a possible Saudi takeover to senior figures at St James’ Park this month, this newspaper was advised to file it away with the countless other ghost bids. But sources in the Middle East continue to insist that a deal is close to being agreed, with Staveley and the British billionaire Reuben brothers expected to take a small stake — about 20 per cent — and seats on the board. It is Staveley’s involvement that is causing many, Newcastle fans among them, to be cynical. She may have brokered the Abu Dhabi takeover of Manchester City but her previous discussions with Newcastle led Ashley to brand her a “tyre kicker”, or a time waster. Ashley was irritated when Staveley arrived unannounced at his favoured curry house, Paradise in Hampstead, in December 2017 during his regular Wednesday night out, and angered that she was photographed leaving. The timing and the media scrummage that followed annoyed him further. Last night it was unclear whether Ashley’s view of Staveley had softened, while the question of why the Saudis need other investors to come up with 20 per cent of the cash has not been answered. Perhaps some British involvement could make a Saudi takeover more palatable given the country’s human rights record. Sport, of course, is developing a knack for turning a blind eye to these issues in exchange for Saudi riches. And it is not just boxing, golf and Formula One. The Saudis already enjoy a presence in the Premier League via Saudi Telecom and its official partnership with Manchester United and Saudi Prince Abdullah bin Musa’ad’s full control of Sheffield United. The Saudis have made no secret of their desire to get involved in sport as part of its Vision 2030 global image project. They regard it as a rebranding exercise, something they hope will boost tourism, while the rest of the world calls it sportwashing. In Newcastle there is unlikely to be too much opposition. The Evening Chronicle, Tyneside’s local newspaper, conducted an online poll on Saturday about whether supporters would have any objections because of the Saudi human rights record. The response was overwhelming with 80 per cent in favour of a takeover. In part that can be put down to a level of fan indifference to the complex morality of owners, and also to the desire to rid the club of Ashley. The first home game, post Ashley, at a St James’ Park free of Sports Direct signs, would be a celebration. Newcastle remain a big club in waiting, a fact identified by Prince Mohammed and advisers who also regard it as excellent value when clubs such as Manchester United and Chelsea would be valued at more than £3 billion. Newcastle’s draw with Oxford United on Saturday means it is the first time the club will be in an FA Cup fifth-round draw since Ashley took control in 2007. The fact that a capacity crowd of 52,221 watched a fourth-round tie with a League One side shows the club’s potential — albeit the attendance was helped by a more affordable ticket pricing policy for cup games. However, more than 5,000 season ticket-holders have boycotted the club because of Ashley. Indeed many sense the club have returned to their embryonic pre-Sir John Hall and Freddy Shepherd days, a club seeking direction and genuine ambition with a fed-up fan base unconvinced that twice breaking the transfer record last year points to a long-term strategy. It is understood that there is no desire among the prospective buyers to make any immediate changes to the coaching staff. On Saturday Steve Bruce, the Newcastle manager, said the latest round of speculation would not alter his plans for the rest of the transfer window. “I just ignore all of that [takeover talk], but it won’t affect anything we look to do this week, I’m confident of that,” he said. That merely adds to the confusion, as does the club’s long-held insistence that it will not comment on any possible takeovers. They now have a weariness shared by supporters who have seen Staveley, Peter Kenyon and Sheikh Khaled all emerge as potential new owners in the past two years, without the financial clout to purchase the club that Ashley bought for £134 million. The Saudis do have such clout. They could regenerate local areas in much the same way City’s owners have parts of Manchester and they could also invest in a football stadium, training ground and academy that have changed very little in the 13 years since Ashley took control. The new owners may have to be mindful of financial fair play regulations but money really would be no object. Even the prince’s yacht can be rented at £5million a week. https://www.thetimes.co.uk/article/why-340m-newcastle-united-deal-adds-up-for-saudis-r2pbkjcqn Link to post Share on other sites More sharing options...
TRon Posted January 27, 2020 Share Posted January 27, 2020 So basically Ashley is still pushing the line that months of negotiations could be binned because someone leaked the story to the press. If he doesn't want to sell, why doesn't he just say it straight instead of wasting everyone's time? Link to post Share on other sites More sharing options...
Optimistic Nut Posted January 27, 2020 Share Posted January 27, 2020 If any of this is true, not sure I’d want Benitez back now as great as he’d be. I’d want a fresh start. Link to post Share on other sites More sharing options...
Robster Posted January 27, 2020 Share Posted January 27, 2020 I think he genuinely gets off on pissing people around and having all the power in a deal involving other wealthy people. Plus he gets to piss NUFC fans off yet again. Link to post Share on other sites More sharing options...
TRon Posted January 27, 2020 Share Posted January 27, 2020 As bad as Ashley is he isn't executing people for blasphemy or being raped, he isn't chopping peoples heads off in embassies, he isn't killing kids in Yemen. If you guys want to be a marketing tool for these psychopaths then that's up to you though. I bet it'll all be worth it when we win the Champions League. What is a club, in any case? Free advertising for a discount sports chain at the moment. Link to post Share on other sites More sharing options...
TooonDoom Posted January 27, 2020 Share Posted January 27, 2020 those two articles conflict as to whether the two days thinking time was agreed before or after the leak. Link to post Share on other sites More sharing options...
TRon Posted January 27, 2020 Share Posted January 27, 2020 those two articles conflict as to whether the two days thinking time was agreed before or after the leak. They are doing a Luke Edwards and covering both bases it seems. Link to post Share on other sites More sharing options...
Sima Posted January 27, 2020 Share Posted January 27, 2020 So basically Ashley is still pushing the line that months of negotiations could be binned because someone leaked the story to the press. If he doesn't want to sell, why doesn't he just say it straight instead of wasting everyone's time? Because he enjoys it. Link to post Share on other sites More sharing options...
FinnMag Posted January 27, 2020 Share Posted January 27, 2020 If those rumours are true, SD advertising rights in The SJ Park are one major stumbling block for the takeover. Im pretty sure that Ashley wont sell, if the deal does not includes those rights... Link to post Share on other sites More sharing options...
Optimistic Nut Posted January 27, 2020 Share Posted January 27, 2020 Link to post Share on other sites More sharing options...
Optimistic Nut Posted January 27, 2020 Share Posted January 27, 2020 Link to post Share on other sites More sharing options...
Optimistic Nut Posted January 27, 2020 Share Posted January 27, 2020 It is believed that a £340millon deal is now a big possibility for United, but Ashley wants to be convinced that the bidding group can take the club on to the next level. As opposed to Ashley of course? Link to post Share on other sites More sharing options...
Guest chopey Posted January 27, 2020 Share Posted January 27, 2020 Has Rafa been linked yet ? Link to post Share on other sites More sharing options...
Optimistic Nut Posted January 27, 2020 Share Posted January 27, 2020 Has Rafa been linked yet ? Yes. Link to post Share on other sites More sharing options...
Guest reefatoon Posted January 27, 2020 Share Posted January 27, 2020 If any of this is true, not sure I’d want Benitez back now as great as he’d be. I’d want a fresh start. I agree with you. A whole fresh new start from top to bottom. Link to post Share on other sites More sharing options...
SweMag Posted January 27, 2020 Share Posted January 27, 2020 It is believed that a £340millon deal is now a big possibility for United, but Ashley wants to be convinced that the bidding group can take the club on to the next level. As opposed to Ashley of course? Amazing journalism from Lee Ryder that. Link to post Share on other sites More sharing options...
gdm Posted January 27, 2020 Share Posted January 27, 2020 Link to post Share on other sites More sharing options...
Collage Posted January 27, 2020 Share Posted January 27, 2020 It is believed that a £340millon deal is now a big possibility for United, but Ashley wants to be convinced that the bidding group can take the club on to the next level. Yeah, I’m sure Fat Mike is very concerned about that. Link to post Share on other sites More sharing options...
mrmojorisin75 Posted January 27, 2020 Share Posted January 27, 2020 Am I reading those articles right in that they seem to be saying this 'angry at the leak' thing is actually he's angry that Staveley is involved again. As if he wasn't aware of that fact. Doesn't seem to make sense, but then they're probably just making shit up as per. Link to post Share on other sites More sharing options...
Tsunami Posted January 27, 2020 Share Posted January 27, 2020 If there is a takeover and a project ahead Rafa would be the perfect fit. He knows the area, he likes it here, he knows the fans, he knows what infrastructure is needed and I’m pretty sure he’d find a way to win something. FFP will play a role, we’d not be able to go out and splash endless cash on players who may not fancy it here in the first place. None of this will happen of course but, I’d take Rafa as the man to start the transformation. Link to post Share on other sites More sharing options...
Guest chopey Posted January 27, 2020 Share Posted January 27, 2020 I bet they get a shock when they find out what's actually left in this skeleton club, we can't even expand the stadium ffs Link to post Share on other sites More sharing options...
WarrenBartonCentrePartin Posted January 27, 2020 Share Posted January 27, 2020 Ashley’s going to pull the plug. Link to post Share on other sites More sharing options...
Optimistic Nut Posted January 27, 2020 Share Posted January 27, 2020 If there is a takeover and a project ahead Rafa would be the perfect fit. He knows the area, he likes it here, he knows the fans, he knows what infrastructure is needed and I’m pretty sure he’d find a way to win something. FFP will play a role, we’d not be able to go out and splash endless cash on players who may not fancy it here in the first place. None of this will happen of course but, I’d take Rafa as the man to start the transformation. He’d have to hit the ground running to appease the ‘better than this time last season’ and ‘boring football’ brigade though. Link to post Share on other sites More sharing options...
STM Posted January 27, 2020 Share Posted January 27, 2020 Dont fall for it. It will only make the heartache worse. Link to post Share on other sites More sharing options...
Wilson Posted January 27, 2020 Share Posted January 27, 2020 Ashley’s going to pull the plug. That's all that remains to happen now. Link to post Share on other sites More sharing options...
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