The Star (Kenya)

Mag­pies take is­sue with EPL over the ‘re­jected’ Saudi bid

- LON­DON/ Soccer · Sports · Soccer Business · Newcastle United Football Club · Mecca · Michael Ashley · The Gulf Cooperation Council · Saudi Arabia · Saudi Arabia national football team

New­cas­tle United took is­sue with the Pre­mier League on Wed­nes­day by ac­cus­ing the body of act­ing in­ap­pro­pri­ately in re­ject­ing a Saudi Ara­bian-backed takeover bid based on an own­ers and di­rec­tors’ test.

The club, whose ver­sion ap­peared to con­tra­dict the league’s, said they would be “con­sid­er­ing all rel­e­vant op­tions avail­able”.

The pro­posed 300 mil­lion-pound ($390 mil­lion) takeover of the club owned by Bri­tish busi­ness­man Mike Ash­ley col­lapsed in July.

The de­ci­sion came af­ter long scru­tiny by the Pre­mier League which faced pres­sure to block the deal due to con­cerns over al­leged broad­cast piracy in the Gulf state.

The con­sor­tium in­cluded Saudi Ara­bia’s sovereign wealth fund PIF, PCP Cap­i­tal Part­ners and the Reuben Broth­ers. The Pre­mier League’s chief ex­ec­u­tive Richard Masters said in Au­gust that the bid had failed af­ter the group de­clined an of­fer of in­de­pen­dent ar­bi­tra­tion and vol­un­tar­ily with­drew.

He also said there was never a point when the Pre­mier League was asked to make an as­sess­ment on the suit­abil­ity of mem­bers of the con­sor­tium as the group had ended its bid be­fore the is­sue was re­solved. New­cas­tle said the Pre­mier League had re­jected the bid, how­ever.

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