Luke Edwards withdrew from complaining about the potential acquisition of Newcastle United after news broke out involving the Premier League.
The Lowdown: Premier League removes KSA from watch list
According Press Association (via Sky Sports), the British First Division has made the decision not to ask that the Kingdom of Saudi Arabia (KSA) be kept on the US government’s piracy watch list until 2021.
Mike Ashley drew some encouragement from this as he remains determined to sell St. James’ Park faithful to the KSA group.
Consortium sources said they remain committed to their takeover bid if the arbitration case between the club from the Northeast and PL goes in favor of the former.
The latest: Edwards on acquisition
After the news broke, Edwards, a Daily Telegraph journalist who has been following the entire acquisition saga closely, gave his instant reaction.
He claims that ‘trust has never been an issue’ in relation to those trying to buy the Tyneside club, adding that ‘nothing has changed’, and that the deal is ‘no closer to closing than it was 11 months ago’.
Edwards completed by claiming in relation to the acquisition: ‘I don’t think that will happen’.
The verdict: arbitration will paint the picture better
While the news that Ashley received some encouragement after the Premier League decided not to ask the KSA to be placed on the watch list is certainly positive, Edwards is right to say that little has changed with regard to the actual concrete developments for the acquisition of back on track.
The KSA consortium has always been confident it can still close a deal regardless of the news that comes out, and ultimately arbitration should paint a better picture of where it’s headed.
A positive result for the Magpies would bring the potential resurrection of the offering one step closer, but similarly a negative result could see the acquisition dead and buried forever.