Newcastle United’s prospective takeover by a Saudi Arabia-backed consortium will not be scrutinised by a parliamentary committee, according to a fresh report from the Telegraph.
Conservative MP Giles Watling requested that a panel investigate the deal over piracy claims surrounding the Middle East state.
But this is to be denied as per the above report.
It’s claimed that the beoutQ network was involved in illegally broadcasting sports events via streaming, which includes Premier League football.
The Magpies are on the verge of completing a £300m takeover which would result in Saudi Arabia’s public investment fund taking an 80% stake in the northeast outfit.
PCP Capital Group’s Amanda Staveley and the Reuben brothers will take 10% each with the former fronting the club’s board.
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Instead, the Digital, Culture, Media & Sport select committee will focus on the impact that the ongoing pandemic has had on the sectors it oversees.
It appears as if the only thing standing in the way of the takeover being complete is the Premier League’s outcome from their owners and directors test.
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