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Newcastle United: Club Sold To PCP - Official


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1 hour ago, Tom said:

Oh well given that the de facto head of state is also the head of PIF we may as well not turn up :lol: 

It’s coning down to the question of being a seperate legal entity though. It’s not straight forward either way tbh

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its official #Cans #Jimbo's telly

I've spent many a workday researching CHAPS.

I'm at the ground. Staveley just came out and held up Bruce's head. 

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1 hour ago, Isegrim said:

It’s coning down to the question of being a seperate legal entity though. It’s not straight forward either way tbh

Does anyone know what the Newcastle United 1892 Consortium, or to give him his other name, Keith from Gateshead, thinks?

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3 minutes ago, Howmanheyman said:

Does anyone know what the Newcastle United 1892 Consortium, or to give him his other name, Keith from Gateshead, thinks?


I watched bits of it (fuck they can drone on) and it reminded me of an old skool Toontastic politics debate with each side linking stuff to back up their point of view.

 

However the judge was impressed with the audience figures for the live stream :lol:

 

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I have no appetite to focus on this rubbish and haven’t had for quite some time :lol: 

 

Im too used to misery tbh. Bruce telling us we were entertaining after losing 5-0

and ASM getting injured or something.

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1 hour ago, ewerk said:

The Saudis have unblocked Bein and stopped the pirating of their broadcasts. It mightn't mean anything but it's not bad news.

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.

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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.

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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 
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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.

 

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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.

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