Premier League chief executive Richard Masters has responded to a plea for clarity over the failed takeover of Newcastle United.
PCP Capital Partners’ largely Saudi-funded £340 million bid to buy the Premier League club collapsed recently.
Newcastle fans are unhappy with the failure to seal the deal, especially as the club’s current owner Mike Ashley is widely disliked on Tyneside.
Newcastle Central MP Chi Onwurah asked Masters to discuss the collapsed takeover.
Masters confirmed that after an impasse was reached in the league’s owners’ and directors’ test, Amanda Staveley’s consortium, under which Saudi Arabia’s Public Investment Fund is seeking to buy an 80 per cent stake in the club, declined an offer of independent arbitration.
“In June, the Premier League board made a clear determination as to which entities it believed would have control over the club following the proposed acquisition, in accordance with the Premier League rules,” Masters wrote in a letter published on Friday. (Guardian)