Newcastle claim Premier League side reject new takeover bid

Newcastle have issued a strongly worded statement condemning the Premier League’s decision to reject a takeover bid based on tests from PCP Capital Partners, Ruben Brothers and the owners and directors of Saudi Arabia’s Public Investment Fund (PIF). What has been released?

The Magpies have been linked with a takeover bid for most of the calendar year, but all their efforts for new ownership failed when a Saudi Arabian-backed consortium rejected the Premier League’s offer to mediate. Determine who will own the club.

Club statement.#NUFC

— Newcastle United FC (@NUFC) September 9, 2020

His latest bid is expected to be accepted by the Premier League – a £300m deal that would end Mike Ashley’s 13-year tenure as owner of the club – with a new deal proposed, but Despite claims that Newcastle have provided the necessary evidence to allow the takeover. Move forward, they are pushed back once again.

A statement on the club’s official website read: “Newcastle United can confirm that the Premier League has agreed with PCP Capital Partners, Reuben Brothers and Saudi Arabia’s Public Investment Fund (PIF) owners and Rejected the takeover bid based on the directors’ test.

Despite the club providing overwhelming evidence and legal opinions to the Premier League, it has concluded that the PIF is independent and autonomous from the government of Saudi Arabia.

“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 consider all relevant options available to them.

Mike Ashley has owned the club since 2007/Catherine Ivel/Getty Images

“Mike Ashley understands the fans’ frustrations and would like to reassure them that he is fully committed to ensuring that this takeover process is completed as he believes it is in the best interests of the club. Bruce’s continued full support. Best wishes to the players and all staff for the season ahead.

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