Newcastle United - £300 million

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Paul Waine
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Newcastle United - £300 million

Post by Paul Waine » Tue Apr 14, 2020 6:51 pm

No, not a bid for Dwight!

Newcastle United takeover deal worth £300m close

https://www.bbc.co.uk/sport/football/52284645

tiger76
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Re: Newcastle United - £300 million

Post by tiger76 » Tue Apr 14, 2020 7:05 pm

Oh! great yet more dodgy Saudi oil money polluting the PL,just what we need,interesting timing given the uncertainty in the football world,and the business environment generally on a global level

Ashley's probably getting out at the right time before the bubble bursts,he's a knob,but he's also a shrewd businessman.

If this gives the Geordies extra clout in the transfer market,that's not good news for us,they're one of the few clubs we can compete with in terms of expenditure.

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Re: Newcastle United - £300 million

Post by Paul Waine » Tue Apr 14, 2020 7:10 pm

From Magic Money Tree thread - and all credit to Chester Perry.

Chester Perry wrote: ↑
Tue Apr 14, 2020 12:19 pm
yet the story Newcastle buyout story still managers to trundle on - https://www.shieldsgazette.com/sport/fo ... er-2537873 - Stavely seems be the one forcing it into the news
and BBC has reported on developments in the past hour or so.

Thought it might merit a separate thread.

Now read Gazette. £150 million vendor financing is interesting and is possibly indicating how the buyer(s) and the seller square the circle of reaching agreement on price. "I sell to you for £300 million and I lend you £150 million, so you only need to pay me £150 million when the sale is completed."
Maybe there will also be provisions in the agreement about interest rate on the £150m loan. Maybe a "bonus" if the 2019-20 season is completed and/or tv money paid in full. Maybe a further "bonus" on outcome of 2020/21...

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Re: Newcastle United - £300 million

Post by Paul Waine » Tue Apr 14, 2020 7:13 pm

tiger76 wrote:
Tue Apr 14, 2020 7:05 pm
Oh! great yet more dodgy Saudi oil money polluting the PL,just what we need,interesting timing given the uncertainty in the football world,and the business environment generally on a global level

Ashley's probably getting out at the right time before the bubble bursts,he's a knob,but he's also a shrewd businessman.

If this gives the Geordies extra clout in the transfer market,that's not good news for us,they're one of the few clubs we can compete with in terms of expenditure.
The Companies House document suggests Ashley is lending the buyer(s) £150 million to buy Newcastle. How shrewd that makes him as a businessman time will tell.

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Re: Newcastle United - £300 million

Post by Winstonswhite » Tue Apr 14, 2020 8:06 pm

I hope it goes through. Sick to death about hearing how hard done by the Geordies are.

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Re: Newcastle United - £300 million

Post by Belial » Tue Apr 14, 2020 8:11 pm

The cynic in me hopes they go the same way as Venky's if this comes off (and I happen to actually like Newcastle). Too much Arab/Yank money spoiling football as it is

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Re: Newcastle United - £300 million

Post by Funkydrummer » Tue Apr 14, 2020 8:43 pm

Football is going to hell in a handcart, and at a great rate of knots.
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Steve1956
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Re: Newcastle United - £300 million

Post by Steve1956 » Tue Apr 14, 2020 8:48 pm

Funkydrummer wrote:
Tue Apr 14, 2020 8:43 pm
Football is going to hell in a handcart, and at a great rate of knots.
It will be more competitive when the elite form their European super league,cant wait to have a top division minus Arsenal,Chelsea,Liverpool Spurs and the two Manchester clubs,will we let them rejoin us when it goes tits up....i hope not.

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Re: Newcastle United - £300 million

Post by ElectroClaret » Tue Apr 14, 2020 8:52 pm

It'll be fun watching Steve Bruce pi$$ing any new funds up the wall. :lol:

If he gets the chance....

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Re: Newcastle United - £300 million

Post by Steve1956 » Tue Apr 14, 2020 8:55 pm

ElectroClaret wrote:
Tue Apr 14, 2020 8:52 pm
It'll be fun watching Steve Bruce pi$$ing any new funds up the wall. :lol:

If he gets the chance....
He wont get the chance Electro.

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Re: Newcastle United - £300 million

Post by Funkydrummer » Tue Apr 14, 2020 8:56 pm

Steve1956 wrote:
Tue Apr 14, 2020 8:48 pm
It will be more competitive when the elite form their European super league,cant wait to have a top division minus Arsenal,Chelsea,Liverpool Spurs and the two Manchester clubs,will we let them rejoin us when it goes tits up....i hope not.
In that instance, they should not be allowed to buy players from outside their little clique, and must
develop their own and trade amongst themselves.

Then we'll see who is the elite, and who holds the attention of the public. In no way should they be
allowed back into the fold either.

B0ll0cks to 'em. :twisted: :twisted:

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Re: Newcastle United - £300 million

Post by Steve1956 » Tue Apr 14, 2020 8:58 pm

Its going to happen FD......they wont beable to resist the cash on offer....greedy b@stards!!!!

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Re: Newcastle United - £300 million

Post by Devils_Advocate » Tue Apr 14, 2020 9:07 pm

If you take the top 6-8 out of the Premier League it will just become a rebranded Championship and the money that pays all our players wages were disappear as we disappear down the divisions

People are still crying about how Man Utd dropping out the FA Cup for a season devalued the whole competition so when the best 6-8 clubs bugger off for good then the English top division will become a joke

As much as you might hate all the money swishing round its the reason we see the quality of football and players at the Turf week in week out
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Re: Newcastle United - £300 million

Post by agreenwood » Tue Apr 14, 2020 9:08 pm

Looks like several investors. If I were a Newcastle fan I’d not be breaking out the bubbly just yet. No guarantee that this isn’t another set of owners looking to milk the club and put minimal amounts back in.

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Re: Newcastle United - £300 million

Post by IanMcL » Tue Apr 14, 2020 9:15 pm

Poor old Steve Bruce. Not foreign enough!

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Re: Newcastle United - £300 million

Post by Steve1956 » Tue Apr 14, 2020 9:34 pm

Devils_Advocate wrote:
Tue Apr 14, 2020 9:07 pm
If you take the top 6-8 out of the Premier League it will just become a rebranded Championship and the money that pays all our players wages were disappear as we disappear down the divisions

People are still crying about how Man Utd dropping out the FA Cup for a season devalued the whole competition so when the best 6-8 clubs bugger off for good then the English top division will become a joke

As much as you might hate all the money swishing round its the reason we see the quality of football and players at the Turf week in week out
If football goes to pre Sky days im all for that bring it on!

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Re: Newcastle United - £300 million

Post by Devils_Advocate » Tue Apr 14, 2020 9:39 pm

Steve1956 wrote:
Tue Apr 14, 2020 9:34 pm
If football goes to pre Sky days im all for that bring it on!
It wont though. It'll be same as it is now but we wont be at the top table. If you'd prefer us be in Championship or League 1 today then you'll be very happy with a Euro Super League

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Re: Newcastle United - £300 million

Post by Steve1956 » Tue Apr 14, 2020 9:51 pm

You have a crystal ball do you?

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Re: Newcastle United - £300 million

Post by Devils_Advocate » Tue Apr 14, 2020 9:57 pm

Nope but the missus does

Image

Steve1956
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Re: Newcastle United - £300 million

Post by Steve1956 » Tue Apr 14, 2020 10:01 pm

How drowl

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Re: Newcastle United - £300 million

Post by Devils_Advocate » Tue Apr 14, 2020 10:12 pm

droll
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Re: Newcastle United - £300 million

Post by Bosscat » Tue Apr 14, 2020 10:15 pm

Troll ..... ooops this isn't the Adeola Friday thread :roll:

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Re: Newcastle United - £300 million

Post by Steve1956 » Tue Apr 14, 2020 10:20 pm

Devils_Advocate wrote:
Tue Apr 14, 2020 10:12 pm
droll
*******! I asked the wife how you spelt that,shes utterly
useless! 😂
Last edited by Steve1956 on Tue Apr 14, 2020 10:54 pm, edited 1 time in total.
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Re: Newcastle United - £300 million

Post by Bosscat » Tue Apr 14, 2020 10:23 pm

Steve1956 wrote:
Tue Apr 14, 2020 10:20 pm
*******! I asked the wife how you spelt that,shes utter useless! 😂
I didn't realise DA is married to a cartoon gypsy... you learn something new on UTC every day ...

Its edukashunal innit :D

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Re: Newcastle United - £300 million

Post by Devils_Advocate » Tue Apr 14, 2020 10:26 pm

Bosscat wrote:
Tue Apr 14, 2020 10:23 pm
I didn't realise DA is married to a cartoon gypsy... you learn something new on UTC every day ...

Its edukashunal innit :D
I pulled her on the strip, she caught my attention cos she was being very animated
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Re: Newcastle United - £300 million

Post by Danieljwaterhouse » Tue Apr 14, 2020 11:05 pm

Paul Waine wrote:
Tue Apr 14, 2020 7:13 pm
The Companies House document suggests Ashley is lending the buyer(s) £150 million to buy Newcastle. How shrewd that makes him as a businessman time will tell.
It’s genius, he sells his existing stake, gets paid interest on the loan, and the club returns to him if the purchasers default.

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Re: Newcastle United - £300 million

Post by Paul Waine » Tue Apr 14, 2020 11:12 pm

FT: Saudi wealth fund agrees £300m deal to buy Newcastle United

Premier League club’s owner Mike Ashley strikes accord with investor group

But, seems I can't share the FT report with you. This is what popped up when I tried to copy/paste.

Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour.

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Re: Newcastle United - £300 million

Post by Chester Perry » Tue Apr 14, 2020 11:40 pm

Paul the story is free to read - https://www.ft.com/content/17856b31-cfb ... 5d45f5bad2

I have to say I still have my doubts about Saudi state involvement:
- why now when Saudi is raising billions of cash through debt sell off, this is a very unusual move they are usually awash with their own,; Oil prices are crashing and a huge fall in oil production has been brokered
- why now when sport is at a standstill, no revenues incoming, no guarantee of when it will start again and at a price that is so inflated to a post pandemic economy
- why Newcastle when the attraction has always and only ever really been Man Utd
- why England when stated policy (and billions in finance) has been spent developing sport inside Saudi

Then you have got the issue of Ashley's long standing insistence on a cash only deal, there is still no cash on show, just a promise if X, Y and Z happens. Unless Ashley has suddenly become desperate to offload the club - and the price quoted does not indicate a fire-sale. This is further reason to question it actually occurring.

Ashley has a thick skin, and is a proper "barrow boy" trader, but if he pulls this sale off at that price, on his terms, in this climate it will be the deal of his life

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Re: Newcastle United - £300 million

Post by Paul Waine » Wed Apr 15, 2020 12:16 am

Chester Perry wrote:
Tue Apr 14, 2020 11:40 pm
Paul the story is free to read - https://www.ft.com/content/17856b31-cfb ... 5d45f5bad2

I have to say I still have my doubts about Saudi state involvement:
- why now when Saudi is raising billions of cash through debt sell off, this is a very unusual move they are usually awash with their own,; Oil prices are crashing and a huge fall in oil production has been brokered
- why now when sport is at a standstill, no revenues incoming, no guarantee of when it will start again and at a price that is so inflated to a post pandemic economy
- why Newcastle when the attraction has always and only ever really been Man Utd
- why England when stated policy (and billions in finance) has been spent developing sport inside Saudi

Then you have got the issue of Ashley's long standing insistence on a cash only deal, there is still no cash on show, just a promise if X, Y and Z happens. Unless Ashley has suddenly become desperate to offload the club - and the price quoted does not indicate a fire-sale. This is further reason to question it actually occurring.

Ashley has a thick skin, and is a proper "barrow boy" trader, but if he pulls this sale off at that price, on his terms, in this climate it will be the deal of his life
Hi Chester, yes, agree FT is free to read. I was surprised I got the "respect our copyright" message. I determined to comply so I didn't create issues for our mb.

When I've seen "vendor finance" to get a deal done, it always tells me that the seller wants to sell. Maybe this really is Ashley's time to step away from the stadium.

The current low oil price will resolve itself, maybe in 2021. Saudi wants and needs to diversify away from an oil dependent economy. Listing Saudi Aramco is part of this process, though, of course, Saudis wouldn't have chosen the current oil price environment.

Why Newcastle? Seems Staveley wants a Premier League football club and she knows how to make her case with Saudis.

Why England, rather than Saudi Arabia? The Premier League is, today, in England. Who knows where the "home of football" will be in 20, 30 and more years time. But, while the world wants to watch Premier League football, then the home will be England. Future years, well, there may be so many others to choose from, but will any of them get the opportunity to become global?

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Re: Newcastle United - £300 million

Post by Chester Perry » Wed Apr 15, 2020 12:29 am

Paul Waine wrote:
Wed Apr 15, 2020 12:16 am
Hi Chester, yes, agree FT is free to read. I was surprised I got the "respect our copyright" message. I determined to comply so I didn't create issues for our mb.
It has been there for a few months - The Times have used it before now as do some American journals. To help avoid issues when I transcribe I make sure the source media, journalist(s) and date/time of publication are included which is essentially what is required from you on the free to share material
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Re: Newcastle United - £300 million

Post by KateR » Wed Apr 15, 2020 12:42 am

Saudi Wealth Fund, can't see them being involved, would be extremely surprised if they are. This is, I believe the largest PIF in the world and the sums being discussed are just a drop in the ocean, so when you add "a loan" from MA, it just doesn't make any sense to me.

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Re: Newcastle United - £300 million

Post by Chester Perry » Wed Apr 15, 2020 12:49 am

Paul Waine wrote:
Wed Apr 15, 2020 12:16 am
When I've seen "vendor finance" to get a deal done, it always tells me that the seller wants to sell. Maybe this really is Ashley's time to step away from the stadium.

The current low oil price will resolve itself, maybe in 2021. Saudi wants and needs to diversify away from an oil dependent economy. Listing Saudi Aramco is part of this process, though, of course, Saudis wouldn't have chosen the current oil price environment.

Why Newcastle? Seems Staveley wants a Premier League football club and she knows how to make her case with Saudis.

Why England, rather than Saudi Arabia? The Premier League is, today, in England. Who knows where the "home of football" will be in 20, 30 and more years time. But, while the world wants to watch Premier League football, then the home will be England. Future years, well, there may be so many others to choose from, but will any of them get the opportunity to become global?
the vendor finance is very strange, just not a tool you expect to see Ashley using (unless the interest rate is truly exorbitant - which would likely negate the deal) it does not help him significantly with his other businesses if he has cash issues there.

Yes the Aramco listing has helped, but why the debt sale. The Saudi's made huge investments in Softbank investment vehicles, many of those have reported enormous losses in from business they have invested in both operationally and in stock value running into 13 digits (tens of billions of dollars)

Staveley wants a Premier League club yes. MBS wants Man United not Newcastle, that bit has never made sense and Ashley has doubted that interest in Newcastle - She does a lot of business there but has she ever gout them to invest hundreds on millions in something they don't want - she has been at this for over 3 years now - the Saudi's have invested over a $100 Billion overseas in that time but not in the ownership of sports club

The point I was making about only investing in sport in Saudi Arabia is one of bring revenues into the country, they are building huge sporting infrastructure and want to be a host nation, not benefit by proxy from a club that plays in another country (unless it is the biggest, most famous one in the world).

All this and more has been discussed in that thread I post in from time to time (I know you read it)
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Re: Newcastle United - £300 million

Post by timshorts » Wed Apr 15, 2020 7:50 am

I suspect that one of the terms of this loan back will be the continuation of the sports direct advertising all around the ground. I'm guessing that it will remain in place until the loan is paid in full.
That may be in lieu of interest. It means very cheap advertising for the last few years of the term.

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Re: Newcastle United - £300 million

Post by Chester Perry » Wed Apr 15, 2020 9:05 am

timshorts wrote:
Wed Apr 15, 2020 7:50 am
I suspect that one of the terms of this loan back will be the continuation of the sports direct advertising all around the ground. I'm guessing that it will remain in place until the loan is paid in full.
That may be in lieu of interest. It means very cheap advertising for the last few years of the term.
and that doesn't make sense in terms of vendor financing either - as the club needs to grow revenues to pay for it - why saddle the club with such constraints? This lot could lose all supporter goodwill in weeks.

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Re: Newcastle United - £300 million

Post by Top Claret » Wed Apr 15, 2020 12:12 pm

Steve1956 wrote:
Tue Apr 14, 2020 9:34 pm
If football goes to pre Sky days im all for that bring it on!
I prefer to keep things as they're being a selfish prat.

If we went back to the good old days of the 70s and 80s, we would be back in the 3rd tier faster than you can say, ******** for brains

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Re: Newcastle United - £300 million

Post by Steve1956 » Wed Apr 15, 2020 12:15 pm

Everyone has a crystal ball. :lol:

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Re: Newcastle United - £300 million

Post by LawsCanalJump » Wed Apr 15, 2020 12:35 pm

So does this mean Newcastle will now be top spenders?

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Re: Newcastle United - £300 million

Post by Chester Perry » Wed Apr 15, 2020 2:21 pm

KateR wrote:
Wed Apr 15, 2020 12:42 am
Saudi Wealth Fund, can't see them being involved, would be extremely surprised if they are. This is, I believe the largest PIF in the world and the sums being discussed are just a drop in the ocean, so when you add "a loan" from MA, it just doesn't make any sense to me.
That is my point Kate then you read “Oil prices are a significant drag on the Saudi economy” in this

https://www.bloomberg.com/news/articles ... t-offering

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Re: Newcastle United - £300 million

Post by KateR » Wed Apr 15, 2020 2:45 pm

Chester Perry wrote:
Wed Apr 15, 2020 2:21 pm
That is my point Kate then you read “Oil prices are a significant drag on the Saudi economy” in this

https://www.bloomberg.com/news/articles ... t-offering
Oil prices underpin all NOC country budgets, in the ME most have also started PIF's aimed at diversifying there wealth such that when oil drops during future decades they will have other international funds coming in, Football is hardly part of FIP and are more toys of royal family members or the extremely wealth. It's interesting to me in terms of the SWF through the PIF addressing energy transmission which seems counter productive to what the whole economy is presently based on.

Issues of Bonds and selling parts of Saudi Aramco are clear indications of moving away from a sole reliance on oil revenues to fund the budget, there are other nuisances to this across the ME of course.

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Re: Newcastle United - £300 million

Post by Dressinggown » Wed Apr 15, 2020 11:10 pm

How the World has changed.

I recall putting money into the 'Golden Gate' at the turnstiles towards the purchase of David Reeves who was on loan from either Bolton / Chesterfield / Carlisle. It would have been 1987ish.

The 'Golden Gate' was an individual turnstile and fans queued to put their hard earned cash into a plastic bucket just before going on the ground. It had a big line

The cost of the purchase of Reeves was in the region of £55,000.

A crowd of little more than 2,000 ensured that Reeves would go elsewhere.

Where are we now ?

Smile and keep well.

DG
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Re: Newcastle United - £300 million

Post by ChorltonCharlie » Thu Apr 16, 2020 8:54 am

Dressinggown wrote:
Wed Apr 15, 2020 11:10 pm
How the World has changed.

I recall putting money into the 'Golden Gate' at the turnstiles towards the purchase of David Reeves who was on loan from either Bolton / Chesterfield / Carlisle. It would have been 1987ish.

The 'Golden Gate' was an individual turnstile and fans queued to put their hard earned cash into a plastic bucket just before going on the ground. It had a big line

The cost of the purchase of Reeves was in the region of £55,000.

A crowd of little more than 2,000 ensured that Reeves would go elsewhere.

Where are we now ?

Smile and keep well.

DG
Funny how the mind can play tricks with the memory over time. When Reeves was with us when our crowds had gone up considerably. The lowest league attendance he played in at Turf Moor was only his 3rd game, and that was 4,217 and was the traditional Christmas shopping Saturday fixture. Most of the games he played in at Turf Moor would have been in front of 6-7,000. Reeves didn't go somewhere else instead either. He returned to his parent club Sheff Wed for another year where he didn't break through and then moved to Bolton the season after. I agree with the sentiment of your post though, I'm just being a pedant.

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Re: Newcastle United - £300 million

Post by Chester Perry » Thu Apr 16, 2020 9:22 am

Much is being made of the Newcastle bid being at the Owners and Directors test stage at the moment and it's suitability for Saudi state ownership vehicles

https://www.theguardian.com/football/20 ... misgivings

What we are not reading about of course is the real elephant in the room for the Premier League is that the Saudi government have a state sponsored sports channel (BeoutQ) that has been pirating paid for Premier League rights by Qatari owned BeinSport for years. Where does that fit in to the test? and what message does it give to rights holders if they are allowed to own Newcastle. There was plenty of condemnation from the Premier League and UEFA (amongst) others at the beginning of the season about this. Plenty on that subject in that other thread

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Re: Newcastle United - £300 million

Post by Chester Perry » Thu Apr 16, 2020 2:21 pm

Seems that someone had been doing their research of the Owners and Directors Test - there are clauses in it relating to breaching of tv rights

https://twitter.com/uglygame/status/1250448625110585350

but the Saudi's do not have any convictions so there is wriggle rule

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Re: Newcastle United - £300 million

Post by Paul Waine » Thu Apr 16, 2020 2:32 pm

Chester Perry wrote:
Thu Apr 16, 2020 2:21 pm
Seems that someone had been doing their research of the Owners and Directors Test - there are clauses in it relating to breaching of tv rights

https://twitter.com/uglygame/status/1250448625110585350

but the Saudi's do not have any convictions so there is wriggle rule
I'm sure any "oversight" in respecting broadcasting rights can be fixed....maybe by a new tv deal to sell Premier League games to Saudia Arabia.... and then a new Championship tv deal, if/when Newcastle are relegated, again. ;)

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Re: Newcastle United - £300 million

Post by Chester Perry » Thu Apr 16, 2020 2:52 pm

Paul Waine wrote:
Thu Apr 16, 2020 2:32 pm
I'm sure any "oversight" in respecting broadcasting rights can be fixed....maybe by a new tv deal to sell Premier League games to Saudia Arabia.... and then a new Championship tv deal, if/when Newcastle are relegated, again. ;)
Those right for the next 2 and a bit seasons belong to BienSport - this is the problem - they reckon that BeoutQ have stolen hundreds and of millions of sports rights from them in recent years including al 5 major European Leagues and and UEFA club competitions - image quality is excellent as it is taken from a Satellite uplink with a badge placed of the BeinSport logo - it is very clear theft.

The should be two conditions laid down by the Premier League in my opinion to get past this particular hurdle

- Concrete confirmation that all such piracy will cease immediately and permanently
- BienSport are paid damages for all losses immediately

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Re: Newcastle United - £300 million

Post by clansman » Thu Apr 16, 2020 3:31 pm

Chester
There are quite a few strands of the story that don’t add up.
I’m not sure even in a monarchy like Saudi Arabia that the wealth fund has the legal ability to invest in non core activities. I’ve been involved with aramco and know how difficult it is to deal with the Saudis so this Yorkshire woman has her work cut out with the wealth fund. Nick u
However even if they have the power to invest in an English premier league team, why on earth would they enter into a venture with the Reuben brothers!(whose parents are Iraqi Jews!)
I think someone in Newcastle is getting over excited and maybe putting two and two together and getting five. The Reubens are heavily involved in property development and one of their schemes is the £100 million redevelopment of Pilgrim Sq in Newcastle. Perhaps when some journalist heard of a large investment in Newcastle he assumed it was in the magpies!

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Re: Newcastle United - £300 million

Post by Chester Perry » Thu Apr 16, 2020 3:46 pm

Clansman - Property deals were a large part of Staveley's deal with Abu Dhabl for Man City - they now own a lot of rental buildings in Manchester as well as the huge Eastlands site.

as for the Reuben brothers and Saudi working together - I suspect as always money talks, these people will know each other and if the Reuben brothers own the rights to that development then they are just another business partner it is the way of things. These guys are self made billionaires through property deals and you will not have done big many property deals in Britain in the last 40 years without significant investment from the middle east

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Re: Newcastle United - £300 million

Post by Paul Waine » Thu Apr 16, 2020 4:06 pm

Chester Perry wrote:
Thu Apr 16, 2020 2:52 pm
Those right for the next 2 and a bit seasons belong to BienSport - this is the problem - they reckon that BeoutQ have stolen hundreds and of millions of sports rights from them in recent years including al 5 major European Leagues and and UEFA club competitions - image quality is excellent as it is taken from a Satellite uplink with a badge placed of the BeinSport logo - it is very clear theft.

The should be two conditions laid down by the Premier League in my opinion to get past this particular hurdle

- Concrete confirmation that all such piracy will cease immediately and permanently
- BienSport are paid damages for all losses immediately
Do we know that BeinSport own the license to broadcast in Saudi Arabia, or is it that a Saudi broadcaster is "streaming" from Qatar into a country that BeinSports can't enter? (I admit I'm not following these events at that level of detail).

Yes, there may be compensation to BeinSports in addition to "regularising" the broadcasting of Premier League in Saudi Arabia with Premier League (or whoever controls the worldwide rights).

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Re: Newcastle United - £300 million

Post by Chester Perry » Thu Apr 16, 2020 4:13 pm

Paul Waine wrote:
Thu Apr 16, 2020 4:06 pm
Do we know that BeinSport own the license to broadcast in Saudi Arabia, or is it that a Saudi broadcaster is "streaming" from Qatar into a country that BeinSports can't enter? (I admit I'm not following these events at that level of detail).

Yes, there may be compensation to BeinSports in addition to "regularising" the broadcasting of Premier League in Saudi Arabia with Premier League (or whoever controls the worldwide rights).
BeinSport own the rights for the whole middle east region

https://en.wikipedia.org/wiki/List_of_P ... oadcasters
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Re: Newcastle United - £300 million

Post by Chester Perry » Fri Apr 17, 2020 10:44 am

Last year Martin Samuel became one of the few journalists to interview Mike Ashley in recent years - that interview is posted back down the MMT thread - what he has to say in his column in the Mail late last night re the takeover is very interesting

MARTIN SAMUEL COLUMN: Newcastle takeover is ringing the loudest of alarm bells as £300m sale looms large
Newcastle United owner Mike Ashley is reportedly close to selling the club
The Public Investment Fund of Saudi Arabia has estimated assets of £256bn
Despite both parties seemingly wanting to do a deal, a price is yet to be agreed

By Martin Samuel - Sport for the Daily Mail
Published: 22:30, 16 April 2020 | Updated: 23:42, 16 April 2020

There's a Tim Vine song about the importance of paying attention in case something is awry. He’s a comedian — it’s called Alarm Bells.

'When the rollercoaster’s fast, it makes you feel high / When the rollercoaster spins, the world whizzes by / When there’s blood on the seats.../ Alarm bells, alarm bells, alarm bells...’

The worry remains there is still time for the Newcastle takeover to shape up rather like that.

‘When the Saudis buy your club, it makes you feel rich / When the Reubens buy your club, it makes you feel swell / When they’re haggling for three years over the same amount of money it cost to buy Joelinton... / Alarm bells, alarm bells, alarm bells...’

Yet these are grim times, so let’s be optimistic for once. Let’s believe that all the delays, the convoluted structures, the partners, the brokers, the haggling over price, the timing of the deal now finally going through against a backdrop of global economic collapse, is all just the way business works in our modern world. Even so, doesn’t it seem the slightest bit strange?

The Public Investment Fund of Saudi Arabia has total estimated assets of £256billion. The difference between the £340m Mike Ashley wants for Newcastle and the £300m believed to be on offer, is 0.015 per cent of that wealth. And that is what has been holding this up?

The equivalent of £4.50 to a person earning £30,000 annually. Roughly the price of a pint of beer. Alarm bells, alarm bells.

There is a lot of information swirling around this takeover, all coming from one side, and usually one source. The seller has said nothing. All we know about Ashley and the consortiums raised by Amanda Staveley is that he does not trust them.

He branded previous negotiations a waste of time. He views Staveley as a self-publicist and considers some of their previous encounters opportunistic. It is unlikely those misgivings have changed, despite the blue chip nature of Newcastle’s other suitors.

While Staveley is involved, there will always be suspicions. Still, the bandwagon is rolling.

Thursday’s back pages included an interview with Faustino Asprilla, imploring the new owners to turn Newcastle into Manchester City, or Paris Saint-Germain. Yet the takeovers of those clubs, by groups from Abu Dhabi and Qatar, were never as torturous as this.

The news of City’s purchase broke in a flash one morning without warning. Even the club’s senior employees had no clue.

And much of Staveley’s reputation was built on her part in that takeover, although her perceived significance very much depends on who you ask.

Why would the PIF of Saudi Arabia need partners, is a commonly-asked question, too. Yet this isn’t entirely unusual.

It has minority stakes in Uber and Posco Engineering and Construction in South Korea and wider business arrangements with General Electric and the SoftBank Group. So being part of a consortium is not peculiar — but incessant delays are.

True, even the world’s richest men do not wish to be taken for mugs. Not everyone does business like Ashley, who eschewed due diligence when buying Newcastle, and uncovered some costly surprises when it was too late.

Yet if the consortium’s plans are to turn Newcastle into Manchester City, a lengthy stand-off over 11.7 per cent of the takeover price seems bizarre, given who is doing the buying. Surely they would just want to get on with it. That is why there remains a fear this is all an elaborate show.

Some interpret Ashley’s silence as confirmation a deal is nearing conclusion and he is doing nothing to jeopardise it, happy to get his £300m amid a huge economic downturn. That would make sense.

A more cynical interpretation is that Ashley is letting the deal proceed, placing no obstacles in its path, allowing the papers to be lodged with the Premier League until the moment he can look his suitors in the eye and tell them, ‘Right, show me the money’.

And if it is not there, if there is another hitch, another delay, a fresh round of conditions or negotiations, then it is on them, not him. He proves his point and is done: it really was another waste of his time.

Meanwhile, though, speculation continues around Newcastle as a future powerhouse.

The coronavirus crisis — and the inevitable lifting of red tape around owner investment that will follow — could leave the club in a hugely advantageous position. They will have money to invest when rivals are impoverished, maybe even destitute.

And there will be no moral dilemma around transfer spending after years of austerity. Newcastle buying big will not carry the stigma of a similar investment at, say, Manchester City.

Few will begrudge Newcastle an attempt to compete with the elite again, after so many years just about managing.

And yet, Saudi Arabian interests also own Sheffield United and their success has been due to the shrewd stewardship of Chris Wilder, not the lavishing of riches upon the club.

Sheffield United have furloughed staff during the shutdown — although the club has pledged to make up the remainder of salary. Even so, one would have imagined owners from the Gulf could have covered it.

So it is with Newcastle. They could be the next cab off the rank bound for the Premier League’s elite. Or they could be sold to a group who might balk at the money the reviled Ashley paid for Joelinton. Alarm bells, alarm bells, alarm bells...
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