The proposed takeover of Newcastle United from a Saudi concern has been stalled indefinitely, reports the Mirror. The deal has been put on hold due to the fact the Saudi government banned beINSports from broadcasting in the county and for that reason the Premier League will not be accepting the takeover.
Newcastle owner Mike Ashley has already accepted an offer from the Saudi’s and it is believed that he has already distanced himself from the club, just wanting to sell and move on. But a deal is looking to collapse due to the decision of banning beINSports from Saudi Arabia. The organisation of the Premier League is supporting its rights holder and will not approve the takeover.
As it currently stands the Saudi’s will have to change their decision to find a way to pass the owners and directors test. According to the Mirror Premier League clubs have expressed their concern that their income is being eroded and that there is no option that the Premier League will be looking for an individual deal with Saudi Arabia.