Richard Masters has admitted he has sympathy for Newcastle United fans after the club's failed takeover bid.
The proposal from Amanda Staveley, the Reuben brothers and Saudi Arabia's Public Investment Fund fell short after the group withdrew their bid when asked to provide details on who's name would be above the door at St James' Park.
But Masters, speaking to Sky Sports, said: "In a situation such as a takeover there should be an expectation of confidentiality.
"By the same token there is an expectation of fans that they should be kept up to speed with what is going on.
"That isn't always possible.
"So I sympathise with Newcastle fans which is why we took the decision to very briefly talk to the NUST and answer their questions and write an open letter to local MPs to explain as far as we could to explain some of the issues.
"It's why it took slightly longer than normal."
Talking about the time frame, Masters said: "There's a common perception that these things take a month.
"It's not the case they do take longer.
"When you have complexities it takes more time.
"We are already taking a look at the owners and directors test and the issue of transparency and fan communication as well."
