US businessman launches £350m bid to buy Newcastle

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American businessman and CEO of US television company Clear TV, Henry Mauriss, has lodged a bid to buy Newcastle United for £350m.

The figure is £50m more than the price agreed with Newcastle’s owner by a consortium involving Saudi Arabia’s Public Investment Fund and supported by Reuben Brothers and Amanda Staveley.

The Saudis’ proposed takeover is currently awaiting the outcome of the Premier League’s owners and directors’ Test.

However, the takeover bid was recently thrown into doubt after the World Trade Organisation (WTO) ruled that the country helped breach international piracy laws.

Mauriss’ bid is said to be built around the prospect of being in charge of the club for the 2020/21 season, but it remains to be seen how this will affect the bid by the Saudi-backed Public Investment Fund.




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