Getty Images Reported offer is worth UK£50m more than Saudi-backed bid Sources close to PIF deal still optimistic Premier League will approve takeover in 'the fairly near future'The proposed takeover of Newcastle United has taken another twist after the top-flight English soccer club received a new UK£350 million (US$436 million) bid from the boss of US digital cable television service Clear TV, Henry Mauriss, according to UK media reports. The ongoing saga over the sale of Newcastle looked to be coming to an end after Saudi Arabia’s public investment fund (PIF) agreed a UK£300 million (US$374 million) deal with current owner Mike Ashley to buy the club, subject to passing the Premier League’s owners’ and directors’ test. But fresh doubt was cast on the PIF takeover on 16th June after the World Trade Organization (WTO) issued a damning indictment of Saudi Arabia’s role in bootlegging operation BeoutQ’s pirate television broadcasts, potentially opening the door for Mauriss. WTO piracy ruling casts fresh doubt over Newcastle’s Saudi takeoverIf a new deal for the Magpies can be made, Mauriss would look to have the takeover wrapped up before the start of the 2020/21 season, according to Sky Sports. That timeframe appears optimistic considering Ashley’s existing exclusivity deal with PIF, meaning he is not allowed to begin due diligence on another offer while a Saudi buyout is deemed viable. While Mauriss’ personal net worth is unclear, Clear TV operates a portfolio of channels servicing airports, hospitals and social media outlets.
Read more at: