Details have been shared on a key Premier League decision in the potential takeover of Newcastle United by the Kingdom of Saudi Arabia (KSA) group.
As per the British and Irish Legal Information Institute website (via The Chronicle), the English top flight were ‘provisionally minded’ to conclude that the Gulf country would become a director at the St. James’ Park faithful as part of a proposed takeover in 2020.
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This is despite insistence from the prospective buyers that the KSA’s Public Investment Fund (PIF) would be in charge instead of them, insisting the two parties are separate entities.
The league wrote a letter to the Magpies on June 12th after the division’s governing body concluded that the KSA ‘would become a director’ at the North East club. The latter disputed this conclusion which is why an arbitration hearing is needed.
There were a list of reasons why the PL were ‘provisionally minded’ to come to the conclusion, in which Judge Mark Pelling says is ‘the sole issue‘ that needs to be settled in the upcoming arbitration case, to see ‘whether this conclusion is correct’.
Arbitration should make things clearer
There is clearly a stand-off between the Tyneside club and the Premier League over whether the KSA government and PIF can be considered as separate entities or not.
The pending arbitration case should settle this dispute, and thus make things a little bit clearer as to what direction the potential takeover is heading.
Nonetheless, members of the Toon Army will be hoping that NUFC win the case, which could prove to be a step further in potentially reviving the original deal between Mike Ashley and the consortium.
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