Amanda Staveley's Newcastle United takeover faces 'significant test'
The proposed takeover of Newcastle United is the “first significant test” of the Premier League’s tightened owners’ and directors’ test, according to a report.
Amanda Staveley, backed by Saudi Arabia’s Public Investment Fund, has agreed a £300million takeover of the club.
The proposed deal now hinges on the club’s prospective owners passing the Premier League’s takeover rules, and the Saudi involvement will come under scrutiny, according to the Financial Times, given the country’s human rights record. Amnesty International have already spoken out against the takeover, which has been welcomed on Tyneside following more than a decade of under-investment under Mike Ashley.
Staveley and her backers will have to set out their blueprint for the club, which was bought by Ashley 14 years ago.
The process would normally take several weeks to complete, and it could take even longer given that the country is in lockdown due to the coronavirus pandemic.