Mark Douglas has shed some light on the chief executive of the Premier League Richard Masters’ reply to local MP Chi Onwurah’s letter asking for more clarity on the proposed takeover of Newcastle United.
As per his tweets, The Chronicle journalist claimed that the detail offered in the letter by the CEO of the top flight raised questions to the Kingdom of Saudi Arabian (KSA) group. The post also added that it is the “first step” and that only the buying side can sort out the details mentioned in the letter, concluding that it certainly “raises the questions”.
Well done for the pressure – we have a response.
Quick take: In terms of sorting those details: only buyers can do that. Don't see how 'pressure' sorts fundamental issue @premierleague highlight. Not sure why they'd refuse arbitration. Or withdraw. Raises the questions.
— Mark Douglas (@MsiDouglas) August 14, 2020
As per the letter from Masters sent back to Onwurah, the Saudi-led consortium failed to give the information to England’s highest division about which entities would have control over the Tyneside club.
The £300 million deal between Mike Ashley and the buying side thus went into stalemate, but the EPL offered the would-be owners an arbitrary tribunal if it wished to challenge the conclusions of the board.
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They did not wish to take the league up on their offer, and as such the Saudi Public Investment Fund (PIF) voluntarily withdrew from the whole takeover process.
Masters went on to say that if the Premier League were given that information, then their board would have made their suitability decision accordingly.
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It seems as if the ball is in PIF’s court now as to whether they give the required information that the top flight want in order to get the takeover back on, otherwise the saga will likely just continue in stalemate, which will frustrate members of the Toon Army.
Geordies, what do you make of the letter? Comment below!
