Newcastle United: Club Sold To PCP - Official

[Isegrim 9798]

I need Parky to state that the takeover won’t happen to boost my confidence.

[ewerk 30633]

7 minutes ago, Isegrim said:

I don’t think it does mean anything now. This ship has sailed long ago. My guess is that the PL will stick to their position that the state has to be named director. This impasse can only get solved by successful arbitration.

The facts of either case haven't changed. This was never officially about piracy but if Bein had the power to block the deal then they quite possibly have the power to pressure the PL into passing it.

[Tom 14011]

 

[ewerk 30633]

[Tom 14011]

I’m doing sober October  

[Monkeys Fist 42459]

Well, here’s to “Can’t Remember November”then. 

 

[Dr Gloom 21941]

my contact is less positive, says the problem is the arbitration: is PIF part of the Saudi state? It obviously is. nothing happens til after the arbitration in January, or if the arbitration goes away.

 

but then he was saying it was on last time and then it went tits up. he's been wrong before, so get those cans on ice 

[ewerk 30633]

From The Athletic:

Quote

The Saudi Arabia-financed consortium's bid for Newcastle United is expected to go through in the near future following the reversal of a ban on beIN Sport in the Gulf nation.

A takeover saga which has now dragged on for 18 months and seen the club embroiled in legal disputes with the Premier League is now closer to resolution and the group, led by Amanda Staveley, the British businesswoman, could soon bring to an end Mike Ashley's 14-year ownership of Newcastle.

The announcement on Wednesday that beIN Sport, the Premier League’s official Middle East broadcaster, will no longer be barred from operating in the kingdom means the takeover is on the cusp of being completed.

In July last year, Staveley’s group pulled out of a deal to buy Newcastle after the Premier League failed to give regulatory approval. The issue was the separation – or lack of – between the Saudi state and its Public Investment Fund (PIF), which would have owned an 80 per cent share of the club. Staveley would have held 10 per cent and David and Simon Reuben, the British businessmen, the other 10 per cent.

Saudi Arabia's involvement in the bid raises important questions about geopolitics, sportswashing and human rights, but a recent poll conducted by the Newcastle United Supporters Trust (NUST) found that 93.8 per cent of its members were in favour of the takeover.

The reversal of the ban on beIN Sports meanwhile ends a lengthy dispute between Qatar and Saudi Arabia.

In 2018, Qatar filed a complaint with the World Trade Organisation (WTO) saying Saudi Arabia was blocking beIN — a Qatari company — from broadcasting in the kingdom.

The beIN Corporation subsequently launched an international investment arbitration against Saudi Arabia for damages totalling more than $1 billion.

Qatar also accused Saudi Arabia of failing to take effective action against alleged piracy of beIN’s content by beoutQ, a pirate broadcaster.

Saudi Arabia’s decision to reverse its ban of beIN Sport will see beoutQ’s operation turned off. beIN Sport’s international investment arbitration will also end.

Saudi Arabia has also committed to removing all pirate websites when informed of them by beIN.

Last year, the WTO ruled that Saudi Arabia helped breach international piracy laws in relation to the beoutQ. Saudi Arabia has previously denied aiding the beoutQ operation and has insisted there is no link between its government and the alleged piracy.

beIN Sports was broadcast on an irregular basis in Saudi Arabia earlier this year, with beIN commenting at the time: “Regarding breaking stories that beIN is fully operational in Saudi Arabia, nothing has materially changed as far as we are aware at this stage - we are constantly monitoring.

“Our website is still fully blocked in Saudi Arabia and we have received no official communication from the Saudi authorities to suggest that our license has been re-instated.

“However, like everyone, we are hopeful of positive moves by Saudi to allow beIN operations back in the country after 3.5 years. We await to see.”

Why has the beIN Sports ban reversal had such a big impact?
beIN Sports have been one of the biggest opponents of the takeover.

The chief executive of the network, Yousef al-Obaidly, last year wrote to the chairs of top-flight clubs about the deal, urging them to “fully interrogate” the consortium.

In the letter, Al-Obaidly accused the Saudi Arabian government of the “facilitation of the near three-year theft of the Premier League's commercial rights — and in turn your club's commercial revenues — through its backing of the huge-scale beoutQ pirate service”.

A resolution between Qatar and Saudi Arabia on this issue therefore removes a major obstacle that has helped to prevent the takeover from taking place.

 

[strawb 4268]

Not going to believe it until it actually happens like. My heart can’t take it

[Monkeys Fist 42459]

6 minutes ago, Dr Gloom said:

my contact is like…

FYP 

[Dr Gloom 21941]

4 minutes ago, strawb said:

Not going to believe it until it actually happens like. My heart can’t take it

 

[PaddockLad 17284]

PL don't want the bone saw dude involved...I suppose it all depends if they waive that through....plus opposition from these err "big 6" fuckin strokers....still tricky I think...

[Isegrim 9798]

9 minutes ago, ewerk said:

From The Athletic:

 

I think Matt Slater is very close yo the PL the way he has reported about things before, so him sticking his head out means much more than what the wannabee Manu fan from the Torygraph is saying.

 I am still very sceptical though.

[Dr Gloom 21941]

i don't think it's happening either

[Sonatine 11393]

50 minutes ago, Dr Gloom said:

vince mcmahon FTW

 

Getting ready to deliver Brewcey his P45 as we speak.

 

[Polarboy 2311]

Now we just need Cabbage head to keep us in the league in the mean time 😀😟 Fuck knows what's going to happen, but bein being allowed to broadcast in Saudi seems very significant for a number of reasons. I mean it seems like it could never be the case that Saudi, sorry PIF 😉 , could buy a club and literally only be able to watch said team through illegal means in their country. Of course it is very likely that the piracy issue was equal in terms of importance to the PL eyes to the objections of the "big 6". Having said that I think the collapse of the super league does give us some leverage over those teams, given that they should be very quiet for a long time after getting away basically scot-free. 

Edited October 6, 2021 by Polarboy

[ewerk 30633]

 

[Jimbo 175]

Where is the old spin wank smilie?

[David Kelly 1245]

5 minutes ago, Polarboy said:

Now we just need Cabbage head to keep us in the league in the mean time 😀😟 Fuck knows what's going to happen, but bein being allowed to broadcast in Saudi seems very significant for a number of reasons. I mean it seems like it could never be the case that Saudi, sorry PIF 😉 , could buy a club and literally only be able to watch said team through illegal means in their country. Of course it is very likely that the piracy issue was equal in terms of importance to the PL eyes to the objections of the "big 6". Having said that I think the collapse of the super league does give us some leverage over those teams, given that they should be very quiet for a long time after getting away basically scot-free. 

If there's any likelyhood of this going through then Bruce will surely be out on his fat arse asap.

[Polarboy 2311]

1 minute ago, David Kelly said:

If there's any likelyhood of this going through then Bruce will surely be out on his fat arse asap.

I suppose is just depends when/if it goes through. Obviously if it's going to go through in the near future he'll be gone, but if it doesn't go through until January who knows what Ashley will do. 

[ewerk 30633]

Bruce will be going nowhere until the takeover goes through officially and he walks into his office one morning to find that Zidane has discovered his secret stockpile of Tudor Gammon and Pineapple.

[ewerk 30633]

8 minutes ago, Jimbo said:

Where is the old spin wank smilie?

Never you worry about that, just get the camera set up in front of your TV.

[Howmanheyman 33267]

[Howmanheyman 33267]

To be honest, I'm more inclined to think it might be allowed to go through now we're at the Steve Bruce 2+ years damage relegation stage. Will they buy a club in serious danger of not being in the PL? 

 

"Hello? PIF? Hi, it's the PL here, we've just had a little think about the takeover and are now happy for you to complete the purchase of championship bound Newcastle United.......hello?........ hello?.......[taps phone a couple of times].......hello?"

[ewerk 30633]