Premier League adamant they have not rejected Newcastle’s takeover bid and say they are ‘disappointed’ and ‘surprised’ by club’s statement
Sept. 10, 2020
The Premier League have strongly denied Newcastle’s claims that they have rejected their Saudi Arabia-backed takeover.
In a statement released on Thursday afternoon, the governing body has hit back after the Magpies issued a statement on Wednesday evening in the latest twist in a saga which has rumbled on for months
The Premier League’s response said: “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.
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“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.”
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