hold since mid-March due to COVID-19 outbreak. Photo:
Twitter/Premier League.
The Premier League have slammed Newcastle’s claim
that the organisation rejected a Saudi Arabia-backed bid to buy the
troubled club.
Newcastle released a statement on Wednesday that said Premier
League chief executive Richard Masters had blocked the takeover and
did not “act appropriately”.
But the Premier League delivered a strongly worded response on
Thursday that made it clear they had not pulled the plug on the
deal.
“The Premier League was disappointed and surprised by the
Newcastle United Football Club statement regarding its potential
takeover by PCP Capital Partners, the Reuben Brothers and the
Public Investment Fund of Saudi Arabia (PIF),” a statement
read.
“The club’s assertion that the Premier League has rejected the
takeover is incorrect.
“The Premier League Board has, on a number of occasions, given
its opinion about which entities it believes would have control
over the club should the consortium proceed with the acquisition.
That opinion is based on legal advice.
“This means the potential takeover could proceed to the next
stage should the relevant entities provide all appropriate
information. They would then be subject to a suitability assessment
by the Board. As an alternative, the Board has repeatedly offered
independent arbitration as a way forward since June.
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“It is also incorrect to suggest these decisions were taken by
any individual; they were agreed unanimously by all Premier League
Board members.”
The investment group, which included the Saudi Public Investment
Fund (PIF), PCP Capital Partners and billionaire brothers David and
Simon Reuben, said they withdrew their bid in July after waiting
months for the English top-flight’s approval.
A £300 million ($391 million) deal to buy the side from owner
Mike Ashley had been agreed in April.
However, the bid had attracted scrutiny due to the piracy of
sports broadcast rights, including Premier League matches, in Saudi
and the state’s human rights record.
Amanda Staveley of PCP Capital Partners said when the bid was
withdrawn that the Premier League wanted the Saudi state to become
a director of the club as the PIF was not deemed to be an arm of
the government.
Supporters have long campaigned for Ashley to sell the club as
they have been disillusioned with his 13-year spell as owner, which
has included two relegations from the Premier League.
Newcastle begin the new Premier League season away to West Ham
on Saturday.
AFP
Read more https://swordpress.com.ng/2020/09/11/premier-league-hit-back-over-newcastle-takeover-bid-claim/