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Takeover Thread - July 1st statement, Staveley letter to Tracey Crouch (and response) in OP


Yorkie

Will the takeover be complete by this summer?  

312 members have voted

  1. 1. Will the takeover be complete by this summer?

    • Yes
      87
    • No
      183


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Mentioned in this article

 

A proposed £340 million takeover of Newcastle United appears to have moved a step closer, with the Premier League having been informed of a bid led by the Public Investment Fund of Saudi Arabia.

 

The organisation is understood to have been formally made aware of the attempt to buy out Mike Ashley, with PIF, the largest sovereign wealth fund in the world, taking an 80 per cent stake if the deal goes through. Amanda Staveley’s PCP Capital is expected to acquire 10 per cent of the club, with the remaining 10 per cent taken by Reuben Brothers, the investment body of one of Britain’s wealthiest families, who own Newcastle racecourse and have a large portfolio of properties and assets worth more than £18 billion.

 

The Telegraph understands that the prospective new owners have been in contact with the Premier League to register their intention to buy the club. Staveley, Jamie Reuben, son of David Reuben and the driving force behind his family’s involvement in the deal, and Yasir Al-Rumayyan, governor of PIF, are believed to have been named among prospective directors. Al-Rumayyan is expected be chairman of Newcastle if the deal is completed. Under League rules Jamie Reuben would have to resign as a director of Queens Park Rangers so that he could also join the board.

 

It is understood that contact was made several days ago and it may take up to a month for the Premier League, which is under huge pressure because of the coronavirus crisis, to conduct checks to ensure the funding is in place and the principals pass the owners and directors test. However, even if the deal is signed no announcement is expected before then.

 

The move towards concluding a deal is a surprise, not least because of the uncertainty created by the effects of the pandemic, with all football suspended. The financial implications are significant, although Newcastle fans will be hugely relieved if the takeover is agreed and Ashley’s ownership finally ends. It will be one of the biggest takeovers in British football.

 

–– ADVERTISEMENT ––

 

 

Talks had intensified since the start of this year with the hope that Ashley could finally be persuaded to sell Newcastle, though negotiations have been problematic.

 

Businesswoman Amanda Staveley in the stands during the Premier League match at St James' Par

An earlier bid led by Amanda Staveley failed in 2018 CREDIT: Owen Humphreys/PA

The consortium, which code-named its plans “Project Zebra” because of Newcastle’s black-and-white stripes, has high hopes of creating a sporting project around the club, with investment in the academy and training ground as well as first-team squad, and in regenerating the area.

 

Staveley, the financier brokering the deal, has been trying to buy Newcastle since October 2017 and had a series of bids rejected by Ashley but it appears that the game-changer is the involvement of PIF, which is chaired by Saudi Crown Prince Mohammed bin Salman, and the vast backing that could bring.

 

The Saudis have been considering how best to make a move into football for some time and have looked at other clubs, but regard Newcastle as one with huge potential. Questions have been asked as to why, with their wealth, the Saudis want to bring in minority partners but it is not unusual for them to structure deals in this way.

 

The PIF fund is central to Saudi Arabia’s “Vision 2030”, a plan spearheaded by Prince Mohammed to diversify the economy away from oil and is also the driving force behind the country’s ambitions to develop new tourist and entertainment industries.

 

David Reuben established Reuben Brothers with his brother Simon. Their fortune was founded on aluminium and mining in Russia and Afghanistan but they have diversified by investing in UK property, including Millbank Tower in central London.

 

Jamie Reuben, 33, who is a friend of QPR chairman Amit Bhatia, is a keen sports fan and joined the Championship club’s board two years ago. He has become the public face of the business which is already also developing a six-acre city centre site in Newcastle. The Reubens wealth easily eclipses that of Roman Abramovich although they, and PCP, will be minority partners if the deal is agreed. Ashley bought Newcastle for £134.4million in 2007 and the Sports Direct owner has proved an unpopular owner at St James’ Park. Newcastle are 13th in the Premier League under Steve Bruce but have been relegated twice from the top-flight during Ashley’s reign with the businessman accused of failing to invest by supporters.

 

Staveley’s ability to buy Newcastle has been questioned despite an apparent series of proposed bids.

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I'd love to know who felt the need to both message Mimms for info and then message Penn with that info. Weird.

 

I thought I'd give this place a wide berth for a while because people seemed to be getting genuinely, real-life upset, and it was never my intention to cause such distress and hurt.

 

But I haven't posted on here in two weeks and people are still crying about me - that's not healthy guys.

 

That Swedish lad can ban me again now but for the record:

 

- anyone who ever thought I was actually Luke Edwards is deeply, deeply unwell.

- no-one ever leaked anything from Mimms to me (if an admin can see PMs they'll be able to verify). Mimms got upset because he realised that someone else had access to his 'source' and he got suitably embarrassed (his source being a notorious ITK gobshite from the Football365 forum, who posts all of Mimms' info a couple of hours before Mimms appears in here).

 

Goodbye and god bless. I love you all.

Wo...IMTTS was actually right? Who would have thought eh..?

 

You're still a cunt though, Luke. :lol:

 

Don't really care if Mimms was getting information from another site tbh, I don't visit that site so for me posting on here was great. Is the takeover still a prospect? I think so personally, and if that turns out to be the case then Penn won't have been right at all. He can't prove categorically that the deal is off so as far as I'm concerned he can fuck off and take his snidey digs with him.

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I'd love to know who felt the need to both message Mimms for info and then message Penn with that info. Weird.

 

I thought I'd give this place a wide berth for a while because people seemed to be getting genuinely, real-life upset, and it was never my intention to cause such distress and hurt.

 

But I haven't posted on here in two weeks and people are still crying about me - that's not healthy guys.

 

That Swedish lad can ban me again now but for the record:

 

- anyone who ever thought I was actually Luke Edwards is deeply, deeply unwell.

- no-one ever leaked anything from Mimms to me (if an admin can see PMs they'll be able to verify). Mimms got upset because he realised that someone else had access to his 'source' and he got suitably embarrassed (his source being a notorious ITK gobshite from the Football365 forum, who posts all of Mimms' info a couple of hours before Mimms appears in here).

 

Goodbye and god bless. I love you all.

Wo...IMTTS was actually right? Who would have thought eh..?

 

You're still a cunt though, Luke. :lol:

 

Don't really care if Mimms was getting information from another site tbh, I don't visit that site so for me posting on here was great. Is the takeover still a prospect? I think so personally, and if that turns out to be the case then Penn won't have been right at all. He can't prove categorically that the deal is off so as far as I'm concerned he can fuck off and take his snidey digs with him.

 

It is actually totally impossible for anyone to really 'think' that the Takeover is anywhere near OFF . . but it is quite frequent (and easy to do) for wind-up-merchants to routinely 'say' that they think the Takeover is off.

 

That is one of the main problems on this thread - people earnestly saying things they know to be untrue, just to wind sensible people up !!!

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I'd love to know who felt the need to both message Mimms for info and then message Penn with that info. Weird.

 

I thought I'd give this place a wide berth for a while because people seemed to be getting genuinely, real-life upset, and it was never my intention to cause such distress and hurt.

 

But I haven't posted on here in two weeks and people are still crying about me - that's not healthy guys.

 

That Swedish lad can ban me again now but for the record:

 

- anyone who ever thought I was actually Luke Edwards is deeply, deeply unwell.

- no-one ever leaked anything from Mimms to me (if an admin can see PMs they'll be able to verify). Mimms got upset because he realised that someone else had access to his 'source' and he got suitably embarrassed (his source being a notorious ITK gobshite from the Football365 forum, who posts all of Mimms' info a couple of hours before Mimms appears in here).

 

Goodbye and god bless. I love you all.

Wo...IMTTS was actually right? Who would have thought eh..?

 

You're still a cunt though, Luke. :lol:

 

Don't really care if Mimms was getting information from another site tbh, I don't visit that site so for me posting on here was great. Is the takeover still a prospect? I think so personally, and if that turns out to be the case then Penn won't have been right at all. He can't prove categorically that the deal is off so as far as I'm concerned he can fuck off and take his snidey digs with him.

 

Who cares where Mimms was getting his info? It was clearly not something anyone on here knew and was news to us and we were all greatful of the information, whether it was 1st or 2nd hand information is inconsequential.

 

As for Penn, he's just antagonistically pessimistic, done for bites dressed up as "keeping it real". There's argument for staying grounded and taking information with a touch of scepticism but he just wants to destroy the final glimmer of hope we as fans grip on to in a club bereft of any. Just let people hold on to what they can and deal with the consequences when and if it falls through. We're all adults, we don't need a daily dose of patronisation :thup:

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I'd love to know who felt the need to both message Mimms for info and then message Penn with that info. Weird.

 

I thought I'd give this place a wide berth for a while because people seemed to be getting genuinely, real-life upset, and it was never my intention to cause such distress and hurt.

 

But I haven't posted on here in two weeks and people are still crying about me - that's not healthy guys.

 

That Swedish lad can ban me again now but for the record:

 

- anyone who ever thought I was actually Luke Edwards is deeply, deeply unwell.

- no-one ever leaked anything from Mimms to me (if an admin can see PMs they'll be able to verify). Mimms got upset because he realised that someone else had access to his 'source' and he got suitably embarrassed (his source being a notorious ITK gobshite from the Football365 forum, who posts all of Mimms' info a couple of hours before Mimms appears in here).

 

Goodbye and god bless. I love you all.

Wo...IMTTS was actually right? Who would have thought eh..?

 

You're still a cunt though, Luke. :lol:

 

Don't really care if Mimms was getting information from another site tbh, I don't visit that site so for me posting on here was great. Is the takeover still a prospect? I think so personally, and if that turns out to be the case then Penn won't have been right at all. He can't prove categorically that the deal is off so as far as I'm concerned he can fuck off and take his snidey digs with him.

 

Who cares where Mimms was getting his info? It was clearly not something anyone on here knew and was news to us and we were all greatful of the information, whether it was 1st or 2nd hand information is inconsequential.

 

As for Penn, he's just antagonistically pessimistic, done for bites dressed up as "keeping it real". There's argument for staying grounded and taking information with a touch of scepticism but he just wants to destroy the final glimmer of hope we as fans grip on to in a club bereft of any. Just let people hold on to what they can and deal with the consequences when and if it falls through. We're all adults, we don't need a daily dose of patronisation :thup:

 

Its absolutely relevant where he was getting his info like. If you've got fans hanging on you're every word, there's a big difference between you getting your information from a trusted, connected source and some other gobshite on a public forum.

 

If he was getting his information second hand, from another forum and passing it off like he was ITK then fuck him. Its absolutely sad as fuck.

 

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Guest Howaythetoon

He didn't pass it off as anything though, did he?

 

Nah and his source posting info elsewhere isn’t illegal FFS or mean Mimms’ stuff is incorrect. I can confirm even as a known gobshite his updates were/are legit.  You know yourself Rocker[/member] I have a legit source too and same kind of info that Mimms has relayed once or twice.

 

Again I’m now 100% confident this takeover will eventually happen and if not before the year’s end, soon into the new year! Everything going on in private behind the scenes seems all positive stuff :thup:

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He did say he got it directly from a guy he knows who seemingly had a lot of interesting contacts.

 

Still appreciate him passing on info but it loses credibility if it was from an unknown off another forum. But we don't really know if that's the case I guess....

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Guest Howaythetoon

He did say he got it directly from a guy he knows who seemingly had a lot of interesting contacts.

 

Still appreciate him passing on info but it loses credibility if it was from an unknown off another forum. But we don't really know if that's the case I guess....

 

Maybe the guy posting on a other forum is actually Mimms as well?!

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He did say he got it directly from a guy he knows who seemingly had a lot of interesting contacts.

 

Still appreciate him passing on info but it loses credibility if it was from an unknown off another forum. But we don't really know if that's the case I guess....

 

To be fair, that user only posts the real stuff to a smaller group in FB/WhatsApp from what I gather. So it could be that he's closer to the guy than just getting his stuff off their forum.

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It is actually totally impossible for anyone to really 'think' that the Takeover is anywhere near OFF . . but it is quite frequent (and easy to do) for wind-up-merchants to routinely 'say' that they think the Takeover is off.

 

That is one of the main problems on this thread - people earnestly saying things they know to be untrue, just to wind sensible people up !!!

 

What are you on about man? :lol:

 

Of course people can think that it's off. They're just choosing to listen to different information to what you choose to listen to. Not everyone has to believe journalists.

 

Personally, I believe Ashley and AS still want the takeover to happen. I also believe that it's highly unlikely to happen, and given that it's looking like the only way it can happen is by essentially bringing down the PL I think you'll be waiting a VERY long time (if ever).

 

You shouting all of this "IT'S ONLY LOGICAL THAT IT'S ON" bollocks is as tedious as Sean's tyre kicker Staveley and HTT's 3pm Friday chat.

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He did say he got it directly from a guy he knows who seemingly had a lot of interesting contacts.

 

Still appreciate him passing on info but it loses credibility if it was from an unknown off another forum. But we don't really know if that's the case I guess....

 

To be fair, that user only posts the real stuff to a smaller group in FB/WhatsApp from what I gather. So it could be that he's closer to the guy than just getting his stuff off their forum.

 

As long as it's not bullshit information then I really dont care. Maybe Mimms will explain all if/when he returns.

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He did say he got it directly from a guy he knows who seemingly had a lot of interesting contacts.

 

Still appreciate him passing on info but it loses credibility if it was from an unknown off another forum. But we don't really know if that's the case I guess....

 

Maybe the guy posting on a other forum is actually Mimms as well?!

Good shout.

 

 

Sent from my iPhone using Tapatalk

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Guest Howaythetoon

It is actually totally impossible for anyone to really 'think' that the Takeover is anywhere near OFF . . but it is quite frequent (and easy to do) for wind-up-merchants to routinely 'say' that they think the Takeover is off.

 

That is one of the main problems on this thread - people earnestly saying things they know to be untrue, just to wind sensible people up !!!

 

What are you on about man? :lol:

 

Of course people can think that it's off. They're just choosing to listen to different information to what you choose to listen to. Not everyone has to believe journalists.

 

Personally, I believe Ashley and AS still want the takeover to happen. I also believe that it's highly unlikely to happen, and given that it's looking like the only way it can happen is by essentially bringing down the PL I think you'll be waiting a VERY long time (if ever).

 

You shouting all of this "IT'S ONLY LOGICAL THAT IT'S ON" bollocks is as tedious as Sean's tyre kicker Staveley and HTT's 3pm Friday chat.

 

Hoo, best thing about this thread man :lol:

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He didn't pass it off as anything though, did he?

 

Nah and his source posting info elsewhere isn’t illegal FFS or mean Mimms’ stuff is incorrect. I can confirm even as a known gobshite his updates were/are legit.  You know yourself Rocker[/member] I have a legit source too and same kind of info that Mimms has relayed once or twice.

 

Again I’m now 100% confident this takeover will eventually happen and if not before the year’s end, soon into the new year! Everything going on in private behind the scenes seems all positive stuff :thup:

 

No red flags ;D

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He did say he got it directly from a guy he knows who seemingly had a lot of interesting contacts.

 

Still appreciate him passing on info but it loses credibility if it was from an unknown off another forum. But we don't really know if that's the case I guess....

 

Maybe the guy posting on a other forum is actually Mimms as well?!

Good shout.

 

 

I hope so for the sake of all those daft cunts that thought he was forum Jesus and wanted anyone who dare question him banned for life/stoned to death.

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