Newcastle latest news: Liam Kennedy sends court warning to Toon fans
Newcastle World Journalist Liam Kennedy has warned Newcastle United fans to be “realistic” as Magpies owner Mike Ashley takes the Premier League to the Competition Appeals Tribunal today.
Why did Newcastle take this step?
Having taken over the club in May 2007, Ashley confirmed his intentions to sell the Magpies only 16 months later.
After failing to find a buyer for more than a decade, the potential £ 340 million taken over by a group comprising the Saudi Arabian Public Investment Fund, PCP Capital Partners and the Reuben Brothers collapsed because the Premier League’s arbitration offer was rejected last year.
This led to Ashley releasing a explosive statement over the summer, calling on Newcastle fans, MPs and other prominent figures to urge the Premier League to allow the arbitration case to be heard in public.
Amanda Staveley, the financial head of the takeover bid, also accused the Premier League from a lack of transparency but claims the potential new owners were not deterred in their offer to buy Newcastle.
If the recovery were to eventually materialize, after having initially been OK by Ashley in April 2020, Newcastle would become the the richest English elite club.
Ashley chose to bring the Premier League to Competition Appeal Tribunal, with the start of the case this morning.
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What did Liam Kennedy say about the situation?
Kennedy urged Newcastle fans not to get carried away while the case is heard today.
He insists that bringing the Premier League to the Competition Appeals Tribunal will not necessarily result in the potential takeover.
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However, the journalist understands that Magpies supporters see it as a milestone day that could play a key role in deciding the club’s future.
Kennedy told GMS: “If I had a warning for Newcastle fans, again, it would be just realistic.
“Just keep your feet on the ground and don’t expect it to produce a takeover, because that’s not what it’s going to do.”
What could be the outcome of the case?
Relatives of the deal to believe the hearing is crucial in the potential takeover process, but the Competition Appeal Tribunal cannot force the change in ownership.
It comes after Newcastle had a poor start to the campaign, with Steve Bruce’s side still research for their first victory.
As a result, the Magpies currently find themselves 17th in the Premier League table, with goal difference being all that separates them from the relegation zone.