Buy-out on hold

THE Premier League hasn’t approved the Saudi-backed takeover of Newcastle yet – because state piracy of TV games has cost its broadcast partners billions.

The £300m deal brokered by Amanda Staveley (inset) has not passed the League’s ownership checks because Premier bosses have been pursuing the Saudis for two years for illegally broadcasting games.

The deal to buy Newcastle is 80 per cent funded by the Saudi state’s Public Investment Fund

chaired by Crown Prince Mohammed Bin Salman, the head of state.

The takeover was expected to be waved through within three weeks amid claims from the buyers that there were no red flags. But there are serious issues to solve at a high level, eight weeks after the deal was revealed.

The league’s executives and legal teams, who have to approve the deal, have waged a fierce battle against the Saudis for what the Premier League itself has said is piracy on an unprecedented scale over the last three years.

One broadcaster, bein Sports, launched a claim against Saudi piracy, estimating it has cost them $1bn in lost subscriptions, advertising revenue, legal fees and technical reports.

The Saudi state has also been pursued by FIFA, UEFA, La Liga, Serie A, Bundesliga and the French league as well as the Premier League, accused of stealing their broadcast rights as well.

However, various Saudi law firms refused to take on the Premier League’s cases and their courts were closed to the complaints.

A source said: “The country who are now trying to buy a Premier League club and trying to pass the owners and directors (test) have stolen from the very organisation they now need the approval from.”