Finance expert issues encouraging Newcastle United takeover response as ex-Arsenal hits out at 'disgraceful' decision
Football finance expert Kieran Maguire believes the appointment of Daniel Jowell QC “bodes well” for the Newcastle United takeover as the battle for the £305million+ deal to be approved continues.
Earlier this month, it was revealed that the Magpies and Mike Ashley had launched a fresh legal challenge against the Premier League (EPL) – with an anti-competition case the new line of attack.
The Competition Appeal Tribunal (CAT) will run alongside the arbitration case as Ashley fights for the takeover bid – involving PCP Partners, the Public Investment Fund of Saudi and the Reuben brothers – to be approved.
Jowell, of Brick Court Chambers, is tasked with leading the CAT case and removing some of the hurdles which remain to the deal passing.
And Maguire claims that Jowell’s appointment can only be a good thing.
He told Football Insider: “It bodes well for the takeover.
“People’s reputations and the future of Newcastle United are at stake. You want somebody in your corner who is going to represent your interests as best as possible.
“So you find out who the best QCs are and you snap them up. There are some pretty impressive ones out there and by all accounts, he falls into that category.
“So what Ashley has done is definitely logical in terms of this appointment.”
Meanwhile, former Arsenal striker Kevin Campbell has backed Ashley’s decision to fight the EPL and force the takeover through.
A deal between the Sports Direct tycoon and the Amanda Staveley-brokered consortium was agreed 15 months but failed to get past the owners’ and directors’ test.
“The owner wants to sell,” Campbell told the same website.
“He wants to get the club ready to be sold. So he’s got to go down all of the routes.
“He knows the Toon Army are frustrated. They want a new owner to come in and inject the money.
“There are willing buyers. The Saudi consortium PiF will bankroll serious moves at the club.
“That was disgracefully taken away from them, it’s not right. Ashley is doing the right thing to clear the name of the club so he can sell it.”
EPL chief executive Richard Masters was asked about the Newcastle takeover last week but refused to reveal any details.