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Newcastle takeover: American Media Tycoon Henry Mauriss bids £350m

The Newcastle takeover plot thickens, as American businessman, Henry Mauriss has reportedly bid £350million to secure The Magpies, eyeing a quick agreement with Saudi Arabia's deal on the brink.

CEO of ClearTV, Mauriss, has proposed a bid of £350million to take ownership over the Tyneside club, as there remains interest from Saudi Arabia’s Public Investment Fund (PIF), led by Mohammed bin Salman.

The Saudi takeover is reported to be £300million, agreed with current owner Mike Ashley. However, the deal has yet to be officially confirmed, as on June 16 the World Trade Organization (WTO) issued a report stating a breach of international piracy laws, causing doubt over the deal, allowing Henry Mauriss to enter the fray.

Maurris, made his fortune from the credit card and finance industry, while being the CEO of ClearTV. A digital broadcasting service. If the deal is able to be secured, Mauriss could takeover The Magpies before the start of the 2020/21 season. Yet, optimistic as Mike Ashley’s existing deal with PIF means he is not allowed to begin due diligence on another deal while the Saudi buyout is deemed viable.

Evidence of Mauriss’ personal net worth is yet to be identified, though ClearTV host a variety of channels providing airports, hospitals and social media outlets with TV shows. Mauriss also established Credit America in 1998, a credit card company.

The Saudi takeover still surrounds Newcastle United, as controversy of PIF broke out as the WTO report discovered that ‘prominent Saudi nationals’ promoted illegal broadcasts by pirate network beoutQ. In addition to concerns over Saudi Arabia’s abysmal human rights record. The country claim to be acting independently, as they used footage from Qatari broadcaster beIN, who claim Saudi Arabia is involved with the illegal streaming of Premier League games.

If a crime is committed overseas or for giving misleading information, the Premier League’s owners’ and directors’ test can be failed. Allowing Mike Ashley and Mauriss to begin talks. Mauriss’s interest stacks even more pressure on the Saudi-led offer, as the US businessman’s offers seems viable, compared to PIF’s investment.

UEFA has commented following WTO’s report saying, ““What is clear is that beoutQ’s broadcasts constitute piracy of UEFA’s matches and as such, are illegal.

The Californian is believed to have studied the model used by John W. Henry at Liverpool F.C. and is keen to replicate the same strategy to The Magpies. Although, the timing of the bid does raise a few eyebrows.

Author: James Parker