Newcastle United fans are jealous of Sunderland as the English Football League approved Kyril Louis-Dreyfus' takeover of the club this week.
After Saudi Arabia’s Public Investment Fund (PIF) withdrew their offer to buy out Mike Ashley at Newcastle earlier this year, frustrated with the rigorous and delayed fit and proper persons test that the Premier League conducted, Sunderland have now had their own takeover approved by the EFL.
Sunderland were previously owned by Stewart Donald. However, this week, the EFL approved Kyril Louis-Dreyfus' takeover. The French billionaire-heir will take a controlling stake in the club, while Donald, Juan Sartori and Charlie Methven have maintained a minority shareholding in the club.
The news is undoubtedly exciting for Sunderland fans. The team currently sits seventh in League One, just one point off the playoffs and will be hoping for an injection of investment to get them back into the Championship and eventually the Premier League.
Meanwhile, wantaway owner Ashley remains at the helm at Newcastle. He has been unable to sell the club, despite his best efforts, in recent years, and while optimism remains that the PIF could return, their withdrawal in 2020 was a massive blow to Newcastle's hopes of a takeover.
To add to Newcastle's misery, Sunderland's takeover provides hope. And Magpies fans are jealous of their neighbours. You can see the full Newcastle fan reaction to the Sunderland takeover below.
Meanwhile, a decision is 'imminent' on Amanda Staveley's £819million damages claim against Barclays bank. Barclays made the admission on Thursday as they declared their year profits.
In the report, the bank admitted that a High Court judgement would be made soon but a decision is currently unknown.
Staveley is pressing for damages after her PCP Capital invested £3.3bn on behalf of Abu Dhabi’s Sheikh Mansour bin Zayed Al Nahyan in 2008 as Barclays looked to avoid the UK Government bailout.
She claims that PCP Capital was given worse terms than other investors at the time, including Qatar's sovereign wealth fund. Any court ruling could have an impact on Staveley and PCP Capital making another Newcastle takeover bid.
