The Premier League has hit back at Newcastle United owner Mike Ashley – accusing him of releasing “incorrect” information.
In an amazing war of words between top flight officials and one of its shareholder clubs, the league have revealed the £300m Saudi takeover of the Tyneside has NOT officially been rejected.
That directly contradicts a strongly-worded statement released by Ashley on Wednesday night claiming the league board had “rejected the takeover...based in its Owners and Directors test.”
The Saudi state-owned Public Investment Fund pulled out of the deal to buy 80pc of Newcastle along with Amanda Staveley and the Reuben brothers in July.
The Premier League believed the Saudi government would have control of the club through the PIF.
But the buying consortium insisted the PIF is independent of the state despite having seven Saudi ministers including chairman Crown Prince Mohamed Bin Salman on its board.
The Saudi state failed to stop industrial scale piracy of Premier League TV matches and blocked all legal bids to stop it by the Premier League.
Richard Masters said three weeks ago that the bid had not reached “test” stage. The Saudis withdrew citing delays and economic reasons.
The Premier League said in a statement today: “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).
“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.
“It is also incorrect to suggest these decisions were taken by any individual; they were agreed unanimously by all Premier League Board members.”
The takeover, which promised £250m to spend on players, remains stalled and unlikely to be resurrected in the near future with Saudi state money.
Steve Bruce is proceeding as if he will be manager for the season, and Ashley has backed him in the transfer market, including signing Callum Wilson for £20m.
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