Premier League reveals Newcastle's £300 million Saudi Arabia takeover could be revived

The Premier League has claimed that the Newcastle Saudi takeover could be resurrected only three weeks after the Saudi-led consortium withdrew its £300m bid. Premier League chief Richard Masters has said that the Newcastle takeover is still on the cards but denied giving any assurances that there were "no red flags". It is also believed that Newcastle owner Mike Ashley has continued to remain in open dialogue with the consortium. 

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Premier League chief says Newcastle Saudi takeover could be revived

On Thursday, the Newcastle United Supporters Trust (NUST) held a discussion with Premier League chief executive Richard Masters and asked the Englishman about the failed Newcastle takeover. The NUST had initially written to the Premier League demanding answers as to why talks over the Newcastle takeover had taken over 16 weeks without coming to a conclusion.  According to reports from Sky Sports, the NUST was left satisfied with Masters' explanation and it's now believed that is it up to the Saudi consortium to resume talks and revive their interest in the Newcastle takeover.

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Richard Masters reportedly claimed that the deal for the Newcastle takeover is 'still open' if the Saudi consortium decides to provide more information to the Premier League. Last month, it was reported that the PIF, along with Amanda Staveley and the Reuben brothers, blamed the Premier League's indecision for withdrawing their £300 million bid. The process took over 16 weeks but Masters has defended the actions of the Premier League. 

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Masters went on to reveal that the group had disagreed with the Premier League's assessment during their Owners and Directors' Test and decided to withdraw their bid. The Saudi consortium cited the prolonged process of the tests along with global uncertainty as a reason for its withdrawal. Saudi Arabia came under scrutiny after it was reported that the Premier League games in the country were being broadcast illegally.

Saudi Arabia Crown Prince Mohammed bin Salman was set to have an 80 percent stake in the Premier League club with the Newcastle takeover bid just over a reported £300m. Soon after the Saudi consortium withdrew their bid, Newcastle United's managing director Lee Charnley responded to their statement and said, "Never say never, but Mike Ashley is still committed to this deal." The Premier league also requested Newcastle United owner Mike Ashley to communicate with the fans regarding what happens next.

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Image Credits - nufc.co.uk / AP