Public Investment Fund keen to return to table for Newcastle United talks

Saudi Arabia’s Public Investment Fund would be interested in resubmitting a bid for Newcastle United IF Mike Ashley wins his arbitration case against the Premier League.

As reported by Chronicle Live last night, Ashley will not give up his legal fight with top-flight chiefs after a Middle East consortium – consisting of PIF, Amanda Staveley and the Reuben brothers – withdrew a £340million offer last summer.

The Daily Telegraph are reporting that should Ashley’s lawyers be able to prove that the deal should have been passed, the group will be back on the scene at St James’ Park.

The Premier League are arguing that the arbitration was offered but turned down by the would-be buyers last July before they pulled out of the long running saga.

READ MORE  Lack of creativity in midfield shines through as Magpies are dominated by Saints

United are angry that the club’s own plans for arbitration have been leaked by Premier League lawyers Bird & Bird after a similar challenge posed to the top flight by the Newcastle Supporters Consortium.

Yesterday they released the following statement: “The Club has previously not commented on the arbitration it is pursuing against the Premier League (‘EPL’) with respect to its conduct relating to the proposed takeover because of the confidentiality clause in the EPL’s rules.

“However, the Club is aware of public reports which state that, on 17 November, the EPL referred to legal proceedings with the Club (e.g. social media posts referring to the “Club’s own legal case”) in a letter to Newcastle supporters.

READ MORE  The South Tyneside parks which have received the prestigious Green Flag Awards

“The source of some of the reporting is said to be the EPL.

“It appears, therefore, that the EPL has leaked the contents of their letter to some of those commenting in the public domain.”

Advertisement
Advertisement

Source link

Be the first to comment

Leave a Reply