London based law firm Howard Kennedy have made a rather big claim on the ongoing dispute between Newcastle United and the Premier League with regards to the proposed £300 million takeover at St. James’ Park by the Kingdom of Saudi Arabian (KSA) group.
According to The Shields Gazette, the pending court case between the Tyneside club and the top flight is about one thing only, which is clearing a path to get the Saudi-led consortium back on the table.
Are the Premier League to blame for the Newcastle takeover collapse?
Mike Ashley is looking for answers from England’s highest division and Richard Masters over whet led them into deciding to reject the bid from the Saudis, after reviewing their own Owners’ and Directors’ Test (ODT).
There are disputes over whether Middle Eastern crown prince Mohammed bin Salman (MbS) should be forced to go through the checks and it will surely be a matter that will be brought up in the pending court case.
Indeed, MbS, along with his country’s Public Investment Fund (PIF), were due to hold a majority 80% stake in the North East, with the businesswoman and head of PCP Capital partners Amanda Staveley as well as the billionaire Reuben brothers, who are originally from India but are now based in London, splitting the remaining 20% equally between them.
However, with the rejection of their bid by the EPL, Howard Kennedy claims that the case is a way to try and get the Saudis back on the table, which is surely great news for them should they still wish to take charge at St James’ Park.
As it stands, only time will tell as to whether they will be successful in court and therefore restart negotiations.
Geordies, who do you think will win the case? Comment below!
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