Newcastle United supporters remain frustrated about the club's ongoing takeover saga as it emerged Saudi Arabia's Public Investment Fund (PIF) have entered into advanced talks to buy a stake in McLaren Group.
Sky News have reported that the PIF and Ares Management will invest £400m into the British supercar manufacturer and Formula One (F1) team owner, and a further £150m will be injected into the company by McLaren's existing shareholders.
The PIF have seen an 'opportunity' during the pandemic to make investments abroad, purchasing stakes in Live Nation, Disney, Boeing, Carnival, Facebook and Citigroup as well as a host of other companies, and the sovereign wealth fund had hoped to complete a takeover of Newcastle last year.
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Mike Ashley agreed to sell to the Saudi-backed consortium - the PIF would have taken an 80% stake with Amanda Staveley and the Reuben Brothers each purchasing a 10% stake - but the buyers encountered complications with the owners' and directors' test.
As ChronicleLive reported on August 2 last year, the consortium provided assurances from the 'highest possible level' to try and establish that it was the PIF, rather than the Saudi state, who would be in charge.
However, the Premier League believed the state needed to become a director and this dispute is now the subject of an arbitration dispute between Ashley and the Premier League this month.
Newcastle fans are eagerly awaiting the outcome of that hearing and here is how some supporters reacted to news of the McLaren talks on social media.
'Where is the outcry now?'
The reaction has been noticeably different
Newcastle fans are all saying the same thing
'But can't buy NUFC'
Message sent to Nick De Marco
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