Newcastle’s takeover £300m Saudi deal stalls indefinitely
Newcastle are planning for next season under Mike Ashley and Bruce, with the proposed £300m deal unlikely to be waved through.
The Premier League are believed to be standing alongside its major £500m overseas rights holder beIN Sports.
They were last week slapped with a permanent ban by a Saudi court from broadcasting in the country – hugely inflaming the situation.
The ban was passed in direct contradiction to Premier League chief exec Richard Masters saying in June that the Saudis had to “respond positively to the situation and allow sports rights holders to protect their rights”.
Wimbledon, the ECB and the FA, all massive UK exports, all now concerned that their sports have also been illegally banned from broadcast in Saudi Arabia, via beIN, which is a concern to the Department of Trade.
The Public Investment Fund trying to buy Newcastle is state owned and chaired by ruler Crown Prince Mohammed bin Salman.
They will have to come up with a change of approach and a more plausible way of passing the owners and directors test, or the Premier League are unlikely to make an announcement in their favour soon.
Bruce pleaded this week: “I’ve said many times now we need some clarity on it and to see what the decision is. Up until that time I’ll just go to work, see the CEO at the end of the week and plan for the summer and what we can do with what we have.
“It’s frustrating for everyone concerned so let’s hope there’s a decision very, very shortly.”
There is currently no legal way of watching the Premier League in Saudi Arabia.
Premier League clubs have privately expressed concern that the value of their overseas rights, their income, is being eroded.
Sources claim there is no chance of the Premier League carving out the Saudi market for an individual national deal.
A Saudi-based piracy operation, beoutQ, illegally broadcast the Premier League through 3m set-top boxes for almost three years.
The Premier League legal department were denied access to justice in their courts nine times, and eventually, a WTO report ruled the nation had done nothing to stop the theft.
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The Premier League is being asked to approve the Saudi PIF as suitable owners, and allow the state investment fund to become a shareholder in the league they stole from.
Newcastle’s confirmed Fun888 – an online gambling and casino business – will continue as their main shirt sponsor next season on Monday. Gambling is illegal in Saudi Arabia.
Bruce has talks planned for this week ahead for the transfer window opening, and the future of his loan players will be sorted out, as Lee Charnley continues to run the club for Sports Direct tycoon Ashley.