Foreign secretary Dominic Raab comments on Newcastle takeover

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Foreign secretary Dominic Raab has told Sky News that he believes it is right to “welcome engagement and investment into football” from foreign countries – when asked about a potential Saudi-backed Newcastle takeover.

Amanda Staveley’s efforts to oust Mike Ashley as owner of Newcastle have dragged on for the majority of lockdown. Her PCP Capital Partners group have been funded by Saudi Arabia’s PIF Investment Fund, and the Reuben Brothers.

The £300million deal has had a number of obstacles, though. Not only has the current global health crisis thrown a spanner in the works, but a recent World Trade Organisation report gave a damning verdict on Saudi Arabia’s support of the pirate beoutQ service – which illegally streamed Premier League and World Cup matches.

Despite all this, though, Raab stated that investment from a foreign country will be entertained and welcomed – as long as it passes legal safeguards and checks. He compared it to Roman Abramovich’s takeover of Chelsea in 2003.

“There is a proper process that we’ve got in place to look at everything from the competition aspects of it to other questions of propriety,” Raab said. “It is right that that legal process, with all the safeguards, is followed.

“We have debates over takeovers and we should follow the rule of law. We had the same debate when [Roman] Abramovich took over Chelsea. It is right we welcome engagement and investment into football in this country.

“There are legal safeguards to make sure this is done properly. This is an open, out-looking country – we have investment from all over the world. But we do need the safeguards in place. I trust the courts and the institutions.”

TBR’s view – Does a takeover still stand a chance?

The general consensus, as pointed out by Guillem Balague on his YouTube channel, is that a takeover looks as though it will go through – which is quite something, given the obstacles it has surpassed.

Newcastle look set to enter a new era and despite the report form WTO – among many other blockages. The sooner the better, though, as the transfer window looks as though it will open in August.