The Premier League and its chief executive Richard Masters may face a legal battle with Newcastle United as the Tyneside club released an official statement with regards to the proposed takeover at St James’ Park by the Kingdom of Saudi Arabian (KSA) group.
As per the statement, the Magpies confirmed that the Premier League had rejected the takeover bid made by the Saudi-led consortium, which consisted of the Middle Eastern crown prince Mohammed bin Salman (MbS), his country’s Public Investment Fund (PIF), businesswoman/head of PCP Capital Partners Amanda Staveley and the billionaire Reuben brothers, originally from India but now based in London.
The decision was based on the Owners’ and Directors’ Test (ODT), as the Toon claimed that this conclusion has been reached despite the club providing the Premier League with overwhelming evidence and legal opinions that PIF is independent and autonomous of the KSA government.
Is the KSA takeover of Newcastle over?
The statement also claimed that the club and its owners do not accept that England’s highest division and its CEO have acted appropriately in relation to this matter and thus will be considering all relevant options available to them.
The Daily Mail have reported that Mike Ashley has been told that there is now a strong case for legal action against the EPL, and now it is seemingly up to him and the club as to whether they will take the league to court over the dispute.
Whether they would win this battle is another question, but it seem as if the whole takeover saga is not over just yet.
Geordies, should the Premier League being taken to court over the whole saga? Comment below with your views!
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