£340m Saudi takeover 'moves closer' with Premier League now informed of bid - The Telegraph
Some new takeover claims have emerged from the Telegraph late on Sunday night, claiming Saudi Arabia's sovereign wealth fund are moving closer to buying the club from Mike Ashley.
Their 'exclusive' - which comes from Chief writers Jason Burt and Sam Wallace - claims that the Premier League have now been informed of a bid led by the Public Investment Fund of Saudi Arabia.
The Telegraph claim the league have now been made 'formally aware' of the attempt to complete a takeover, stating the PIF - the largest sovereign wealth fund in the world - plan to take an 80% stake in the club should a deal go through, with Amanda Staveley's PCP Capital and the Reuben Brothers expected to take the remaining 20% between them (10% each)
In short, the report reveals the following:
- £340m bid formally made.
- The Premier League notified.
- 80% PIF, 10% PCP, 10% Reuben Brothers.
- Potential directors named as Yasir Al-Rumayyan, Amanda Staveley and Jamie Reuben.
- The Premier League refusing to comment any further.
It's a promising update - with this suggesting their attempts to buy the club are both genuine and moving forward - however we have been here before.
After al, the Premier League were also 'informed' of the Bin Zayed Group's intentions to complete a takeover...and we all know how that worked out!
As ever, we live in hope, not expectation after so many false dawns!
