Newcastle legend Alan Shearer discusses the club takeover
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Premier League clubs have revolted at the Newcastle United takeover which has shocked the Premier League – with many demanding that Premier League chiefs reveal the way in which the deal was allowed to occur. Reports suggest the other 19 clubs in the league were left furious at the speed at which the takeover was allowed to go through.
Newcastle were owned by Mike Ashley for 14 years, suffering two relegations, boycotted crowds, a lack of money being spent and most importantly a lack of ambition in his time at the club.
The businessman, who owns Sports Direct amongst others, was mostly hated by the entire Magpies’ support for his inability to make Newcastle the title-challenging side they were in the 1990’s with his lack of care and ambition.
Rumours were rife that he wanted to sell the club from around 2018 onwards, and talks with a Saudi Arabian consortium were confirmed in 2020.
But with the talks breaking down in July 2020, other chiefs, chairmen and owners of Premier League clubs had put the matter to one side.
However, after the deal was instantly revived and completed on Thursday, they have called upon the Premier League to explain what had happened.
Newcastle’s takeover has ended 14 years of Mike Ashley’s ownership of the St James’ Park club.
Fans were overjoyed, and took to the streets in their thousands to celebrate the news. Footage showed supporters partying into the early hours, such was Ashley’s unpopularity among the fanbase.
Newcastle have instantly become the richest club in world football thanks to the £320billion value of the Saudi Arabia Public Investment Fund (PIF), which has taken an 80 per-cent stake of the club.
But not everyone is so impressed about the takeover, with reports suggesting the other 19 clubs in the league are furious.
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The Guardian reports the other 19 clubs in the league are set to demand a meeting with the Premier League to explain why the deal was allowed.
It seemed the takeover was dead and buried last year after the consortium – led by Amanda Staveley – pulled out of the deal following disagreements with the Premier League.
However, in a matter of 48 hours a major stumbling block in the deal was removed – with Saudi Arabia ending its legal issues with beIN Sports.
As a result, the takeover was very quickly given the green light, with Ashley selling up for £305m just hours later.
The report from the Guardian states the clubs are not intending to derail or cancel the takeover, as it has already been completed.
Instead, it is an attempt to let the league know the general feeling toward the decision.
Clubs are said to have found out on Wednesday afternoon that the deal would be approved and sanctioned by the Premier League, just 24 hours before it was formally announced.
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Newcastle fans will evidently be over the moon with the impending takeover and fairytale stories that could come their way.
They will evidently look to Chelsea and Manchester City as the blueprint for success, with both having been taken over as mid-table clubs and have going on to enjoy unrivalled success.
Newcastle haven’t finished in the top four of the Premier League since the 2002/03 season.
Yet with their increased budget, the club will be hoping that they will be able to reach that level within the next five seasons.
And the Magpies’ links with Erling Haaland and Kylian Mbappe will no doubt be key to attracting other players to the club.
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