Newcastle has accused the Premier League’s management of appearing inappropriately in rejecting a takeover bid involving a Saudi Arabian sovereign wealth fund and mentioned it could be taking into consideration “all relevant options available.”
The English membership’s remark comes greater than a month after Saudi Arabia’s Public Investment Fund introduced it was once chickening out and criticized the “unforeseeably prolonged process.”
The league blocked the takeover after considerations had been raised about piracy of recreation publicizes by way of a rogue operation in Saudi Arabia and human rights abuses within the kingdom.
Premier League leader government Richard Masters mentioned final month that the consortium was once requested for extra information about which entity would have regulate of the membership so an evaluation might be made about any imaginable disqualifying standards. Masters mentioned an be offering of an unbiased arbitral tribunal was once rejected by way of the bidders.
The British-based Reuben brothers and financier Amanda Staveley had been additionally section of the PIF bid, making plans to each and every purchase the rest 10% stakes.
Newcastle’s announcement concerning the takeover being rejected got here forward of the workforce’s season opener in opposition to West Ham on Saturday.
“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 Saudi Arabian government,” Newcastle mentioned. “The club and its owners do not accept that Premier League chief executive Richard Masters and the Premier League have acted appropriately in relation to this matter and will be considering all relevant options available to them.”
The takeover would have ended the fraught possession of retail entrepreneur Mike Ashley after 13 years.
“Mike Ashley understands fans’ frustrations and would like to reassure them that he has been fully committed to ensuring this takeover process reached completion as he felt it was in the best interests of the club,” Newcastle mentioned. “Mike continues to be fully supportive to (manager) Steve Bruce, the players and all the staff and wishes them well for the upcoming season.”
The Premier League didn’t reply to requests for feedback. Masters mentioned the takeover bid previous Wednesday with out offering element.
“We will of course take stock of what happened and be as transparent as we can be,” Masters mentioned. “Generally speaking, talking about the owners’ and directors’ test, we are in a process of having a look at it anyway. All of our rules require a fresh look every now.”
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