clock menu more-arrow no yes mobile

Filed under:

Newcastle Release Disapproving Statement In Regards to The Premier League’s Rejection of Saudi Backed Takeover

In a damning statement Mike Ashley and Newcastle United slam the Premier League for their handling of the proposed Saudi backed takeover and vow to take action

St James’ Park - Newcastle United FC
the club we all love
Photo by Visionhaus

Newcastle United have finally broken their silence regarding the proposed takeover of the club led by Amanda Staveley featuring backing from the Reuben brothers and the Saudi Arabian PIF.

The club wholeheartedly disagrees with the Premier League’s rejection of the bid citing specifically they disagree with the notion that PIF is not independent and autonomous of the Saudi Arabian government.

The statement goes as far to mention that the club and its owners do not accept the actions of the Premier League and Richard Masters especially given the wealth of evidence and legal opinions that were provided throughout the takeover process

The full statement reads as follows

Newcastle United can confirm that the Premier League has rejected a takeover bid made by PCP Capital Partners, the Reuben Brothers and the Public Investment Fund of Saudi Arabia (PIF) based on its Owners and Directors test.

This conclusion has been reached despite the club providing the Premier League with overwhelming evidence and legal opinions that PIF is independent and autonomous of the Saudi Arabian government.

The club and its owners do not accept that Premier League chief executive Richard Masters and the Premier League have acted appropriately in relation to this matter and will be considering all relevant options available to them. regarding this failed takeover bid.

Mike Ashley understands fans’ frustrations and would like to reassure them that he has been fully committed to ensuring this takeover process reached completion as he felt it was in the best interests of the club. Mike continues to be fully supportive to Steve Bruce, the players and all the staff and wishes them well for the upcoming season.

One thing of note is that the statement claims that the club and its owners “will be considering all relevant options available to them” regarding this failed takeover. This admission could hint at a potential legal battle regarding this takeover and how it was handled by the Premier League.

Mike Ashley seems more motivated than ever to get a deal done for the club and came so close to walking away a happy man. This statement and the actions that could follow display how frustrated Ashley must have been throughout this process. This first step towards addressing this failed takeover is a good step in the right direction for Ashley who has been pretty hands off regarding the club, and has been accused of not wanting to sell the club.

The club’s next move regarding this could be crucial to the future of the club and it should be interesting to see what direction they choose to go. Unfortunately, the takeover saga has returned, and all the anxiety that comes with that. However, the focus for many fans should still be Newcastle’s first match this weekend against West Ham. Let’s pick up points and worry about the takeover later.