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Kieran Maguire: Newcastle fans 'should erect a statue' of unsung takeover hero
Newcastle United fans should ‘erect a statue’ of lawyer Nick DeMarco KC for his role in the Saudi Arabia-backed takeover.
That is the view of finance expert Kieran Maguire, who exclusively told Football Insider that DeMarco’s work on the takeover deal was ‘vital’.
Newcastle faced a legal battle with the Premier League in 2021 to approve of their club takeover by the Saudi Arabian Public Investment Fund.
DeMarco headed the case for the Magpies and the deal eventually was given the green light in October 2021 after he helped to argue that the PIF were a separate entity to the Saudi government.
However, Newcastle have faced criticism this month after agreeing to host two Saudi international fixtures at St James’ Park in the upcoming international break.
Maguire backed the decision as ‘the right thing to do’ from a business point of view but believes Newcastle fans owe a lot to DeMarco’s legal work.
“I think you’ve got to look at it from two perspectives – the club has an obligation to maximise revenue,” Maguire told Football Insider’s Sean Fisher.
“Therefore, when this opportunity arose, it was very difficult for Amanda Staveley and her team to turn it down.
“They’ll get the benefit of additional stadium sales in terms of catering, hospitality and merchandise.
“It also gives Newcastle fans an opportunity to say thank you to the new investment team by acknowledging the contribution made by PIF.
“The opposite side of the issue is that there are some people who are uneasy with the nature of the PIF relationship with the Saudi Arabian government.
“I think Newcastle fans should erect a statue of Nick DeMarco KC after his role in representing Newcastle in their legal battle to push the takeover through.
“I believe his work in getting the takeover approved was vital.
“But ultimately, this is a financial deal and it’s financially beneficial to Newcastle so from a business point of view it’s the right thing to do.“
In other news, Newcastle United star Isaac Hayden undergoing medical today after deal agreed