A journalist writing for Arab News has slammed the English Premier League (EPL) and its chief executive Richard Masters as the biggest losers in the failed takeover of Newcastle United.
As per Frank Kane, the top flight and its CEO could be set to miss out on the largest-ever single cash injection into the sport at a time when the finances of English football are under so much strain due to the negative impact of the global pandemic outbreak.
Are the Premier League to blame for the Newcastle takeover collapse?
Kane also argues that the EPL have shown themselves to be short-sighted to the point of negligence, as he doubts whether the television broadcasters showing their live matches, including beIN Sports, will ever bid the same amounts that they were originally due to the financial constraints.
Indeed, the EPL managed to salvage some money from the 2019/20 season by playing the remainder of the games in empty stadia and so avoiding having to pay hundreds of millions of pounds to TV broadcasters.
The Kingdom of Saudi Arabian (KSA) group, which included the Middle Eastern crown prince Mohammed bin Salman (MbS), his country’s Public Investment Fund (PIF), the businesswoman and head of PCP Capital Partners Amanda Staveley as well as the billionaire Reuben brothers, effectively blamed the Premier League for taking too long to approve of their £300m deal with Mike Ashley and thus pulled the plug on their own bid.
Nevertheless, Kane has argued that the EPL will be the biggest losers if the proposed takeover at St. James’ Park is not eventually given the green light.
Geordies, are the EPL the biggest losers of the takeover fail? Comment below with your views!
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