Newcastle United takeover rumours dismissed as January progress expected

In recent weeks there have been growing suggestions, from various outlets, that a restructuring of the present deal could take place, in order to skirt around barriers placed in front of the current project by the Premier League as part of their owners' and directors' test.

But, the Gazette has been told these rumours, at present, have no foundation – and that the only deal on the table with the club, or even up for discussion, is the PIF, Reubens and PCP one, initially finalised with Mike Ashley way back in March 2020.

Stories have been swirling of late suggesting PIF could look to push their Newcastle United investment through a different channel, most likely a private investor not tied to the Saudi state.

Were they to do that, of course, said bidder is unlikely to hit the same roadblocks the sovereign wealth fund did, when the Premier League insisted on running the country's rulers, including Crown Prince Mohammed bin Salman, through their increasingly exhaustive application of the ODT in relation to Newcastle's owners-in-waiting.

But it is not something that is on the table, or has even been floated seriously, by buyer or seller, with work on the club's current legal challenges going into overdrive over the festive period.

It is understood the club's arbitration with the Premier League, in relation to the application of the ODT, will see progress this month.

Concerns had previously been raised about the balance of any deciding panel and potential considerable conflicts of interest.

While each side – Newcastle and the Premier League – pick one panel member, the other, if it cannot be decided upon, is selected by the FA, currently headed up by interim chair Peter McCormick.

Newcastle United's owner Ashley is thought to have knocked back a high volume of requests to purchase the football club, since last summer, preferring to stick to the deal he not only believes is best for him – with the consortium's access to cash not in doubt – but also best for the long-term interests of the Magpies.

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