The Premier League, this blogger's beloved (though, previously, unsellable) Newcastle United Football Club and St James Holdings Limited have, today, settled the dispute over the takeover of the club by the consortium of PIF, PCP Capital Partners and RB Sports & Media. A three hundred million smackers Saudi Arabian-backed takeover bid has, finally, reached a conclusion. The fact that it has happened this week, after eighteen months is something of a shock. Last week United's supporters were celebrating when they learned of a January arbitration date. Now one of the most complicated takeovers in the league's history is over and fans can dream of a brighter future. It will be a future without hated previous owner Mike Ashley and one in which the club can compete with Europe's biggest teams thanks to the billions the Saudi Public Investment Fund (PIF) can provide.
For a fanbase and club which has lurched from one drama to another in the past decade-and-a-half since Ashley first waddled into Th' Toon, at least there is now a blank page. No-one was expecting the takeover to be completed this week. The best anyone could have hoped for was January 2022, when arbitration between the consortium, led by financier Amanda Staveley, was scheduled in an attempt to settle a row with the Premier League about who would have control at the club. The Saudi state has been accused (rightly) of human rights abuses and was recently embroiled in a copyright row, which would have made it tricky for the takeover to go through based on the Premier League's owners' and directors' test. So, what the consortium needed to do was prove that the Kingdom's PIF, which would provide eighty per cent of the money for the takeover, was a separate entity to the state. Difficult, perhaps, when the ruling leader Crown Prince Mohammed bin Salman is also listed as PIF's chairman. But with legally-binding assurances provided, that has now happened. It is understood there will be significant consequences if those agreements are broken. The consortium can also demonstrate how PIF already invests in companies, including the McLaren F1 team, without state control.
The precursor to news of the takeover going through on Wednesday was Qatar broadcaster beIN Sports saying it had resolved its long-running dispute about Premier League football matches being broadcast illegally in Saudi Arabia. By proving there is separation between the Saudi state and PIF that issue becomes immaterial. But after claims that beIN had previously pressured the Premier League into blocking the takeover, the timing was interesting nonetheless. There is no doubt the vast majority of fans are celebrating the Saudi Arabian-led takeover, no matter the potential distractions that come with it. A Newcastle United Supporters' Trust survey said this week that almost ninety four per cent of its members who expressed a preference were in favour of the takeover and owner Ashley has been told to 'get out of our club' at nearly every match. The situation has become especially toxic this season. Newcastle are currently winless, second bottom in the Premier League and the same fans' survey said ninety four per cent of supporters want manager Steve Brucie (nasty to see him, to see him, nasty) to leave 'in the best interests of the club.' And, to not let the door hit his arse on the way out. The takeover, they hope, will wash away the sour taste in many mouths on Tyneside.
PIF's assets of two hundred and fifty billion knicker dwarfs the wealth of even Sheikh Yer Man City's Abu Dhabi owners and Paris St-Germain's Qatari owners and can conjure up images of signing the likes of French World Cup winner Kylian Mbappe or recruiting Antonio Conte as a replacement for Bruce. At least, that's the theory being pushed by most of the media. 'Fans are absolutely delighted that the disastrous fourteen-year reign of Ashley is almost over,' said Greg Tomlinson of NUST. 'They are looking forward to having hope and belief in their football club for the first time in many years. We don't demand that the club is winning trophies next season. We just want growth and a football club that gets better. Fans have been beaten into the ground.' Tomlinson added: 'Clubs are bought and sold at the highest level by billionaires and sovereign states and we have not had a say in that. But as a supporters' organisation we will always support inclusion and be against discrimination and abuse of human rights. We will use our influence to effect change where we can.' Backed by the wealth of PIF, the consortium is also made up of Staveley's PCP Capital Partners and British property investors the Reuben Brothers, who are also billionaires, so there appears to be no shortage of money. Staveley, who is from Yorkshire, has spoken in the past of her admiration for Sheikh Yer Man City, having been involved in the Abu Dhabi takeover thirteen years ago. But she has also previously urged caution about lavish spending, preferring to highlight how City's owners have invested in the city of Manchester and in developing an impressive youth academy. So there is much hope from locals - this blogger very much included - that the new Newcastle regime follow a similar template.
From a club perspective, one of the first items on the forty eight-year-old's agenda will be overhauling the structure of the club and improving its communications with supporters. Ashley is seldom heard from and any communication from senior figures often comes in the form of statements from managing director Lee Charnley, who is Bruce's go-to man when it comes to transfers. Or, lack of them. But there is no chief executive tasked with running the club, there is no director of football and Bruce is the public figure who has to face weekly questions about everything from legal cases to lack of funds for players, which led to huge frustration in the summer. At which he is, quite simply, about as much use as a chocolate fireguard. Bruce, a Newcastle fan himself - something he trots out with monotonous regularity - claims that he 'only wants what's best for the club and if that means a takeover, then great.' But with the new owners seeking to establish a bond with supporters, the sixty-year-old's position will be under serious threat. Without any ability to sign players until January, a replacement, big-name manager, would at least signify their intent. Staveley praised the former - highly-regarded - Newcastle boss Rafael Benitez when she first made her move for the club in 2018. But the Spaniard has made a fine start with Everton this season. Other fans have said they would like former Juventus, Italy and Moscow Chelski FC manager Conte, who is available. Other managers on the market include another former Moscow Chelski FC boss Frank Lampard and former Sheffield United manager Chris Wilder - although appointment of the latter would be regarded as a significantly retrograde step by many. Current coach Graeme Jones could also work as an interim replacement should Bruce get his large backside kicked out of the front door at St James Park into the gutter along with all the other effluence. After a poor start to the Premier League season, the most important objective will be maintaining the club's top-flight status. But for a lot of fans the future suddenly looks at least a little bit brighter. Of course, we've been here before - fourteen years ago, to be exact when Ashley took over the club. So, the age-old truism 'be careful what you wish for, it might just come true' is, always, worth having in the back of ones mind. Nevertheless, Amanda Staveley has told NUFC fans they are 'the greatest in the world.' Which, in one sentence, is more than those same fans ever got out of Ashley's gob. The British businesswoman greeted supporters at the Jesmond Dene Hotel, where the consortium members had been awaiting the announcement. She told supporters: "It has taken us four years to get here today. I know everyone has got a lot of questions about managers and players and things. Right now, we just want to get in and do a review of the business and we are going to let you all know the plans. We're here to invest. We are patient. We are genuinely here to try and make sure that we try and become the best custodians of the club we can be. You are the greatest fans in the world."' She added: 'This is a long-term investment. We are excited about the future prospects for Newcastle United. We intend to instill a united philosophy across the club, establish a clear purpose, and help provide leadership that will allow Newcastle United to go on to big achievements over the long term. Our ambition is aligned with the fans – to create a consistently successful team that’s regularly competing for major trophies and generates pride across the globe.' Good words. Now, back 'em up with some positive actions and a bit of progress and, trust this blogger Mandy, m'love, you'll be able to walk across the Tyne without getting your feet wet on the wave of goodwill that'll be coming your way.
