Exclusive – Newcastle United owner Mike Ashley has been furious over the delay following their proposed takeover.
Ashley was told earlier this week that their arbitration with the Premier League, which will ultimately determine whether their proposed takeover of a Saudi-led consortium can continue, has been delayed until 2022.
Ashley had hoped that the sale of the club for £ 340 million to Saudi Public Investment Fund, PCP Capital Partners and Reuben Brothers would have gone through this summer, but Newcastle and the Premier League confirmed that this will not be the case until next year.
A source close to the club said at 90 minutes: “Ashley is not happy at all, he did not think this would move until 2022, he wants this to be completed. The consortium is still anxious to make a deal, but no one knows how long it will hold.It may be indefinite.
“Fans are angry too, but what else can Ashley do? He has found a buyer, but it is the Premier League that has stopped it.”
90min understands that Ashley had not planned much for this summer, as the new owners had – and have – big plans for the club, which will probably see manager Steve Bruce away from his position sooner rather than later.
That is not the case now, and Bruce will probably now have another season at the helm of his hometown club.
Bruce will be given the green light to continue with some transfer plans, but that may not include too many with transfer fees; with their budget likely to be less than £ 20 million. Ashley is not looking at big moves, as he still believes the takeover will go through after arbitration.
Steve Bruce will have a limited budget this summer / Stu Forster / Getty Images
Irish midfielder James McCarthy is a player that Bruce’s top-ranked coach Graeme Jones is a big fan of following their experiences at Wigan and Everton together. He is one of the players who has been waiting for Crystal Palace to offer new terms, even though it is believed that the chance to connect with Jones in Newcastle is a huge lure.
Celtic had previously had talks with McCarthy, while Burnley and West Ham have also been linked with a move. Outside the 30-year-old, Newcastle is also exploring its options in the loan market.