Premier League breaks silence on failed Newcastle takeover

General View of St. James' Park, home ground of English Premier League club Newcastle United. Photo: Getty

The head of the Premier League has revealed the consortium which withdrew its bid to buy Newcastle United declined an offer of independent arbitration to help get the deal over the line.


Richard Masters commented publicly about the aborted takeover for the first time in a letter to a British MP, a copy of which was published on Twitter on Friday.

The league spent four months considering whether to approve the $A550 million takeover that would have seen Saudi Arabia's sovereign wealth fund gain an 80 per cent share of the club.

The process was stalled by concerns about piracy by the kingdom and human rights complaints.

In the letter to local MP Chi Onwurah, Masters said that after an impasse was reached in the league's owners' and directors' test, the consortium was asked for more details about which entity would have control of the club so an assessment could be made about any possible disqualifying criteria.

"The Premier League recognised this dispute and offered the consortium the ability to have the matter determined by an independent arbitral tribunal if it wished to challenge the conclusion of the board," Masters wrote.

"The consortium chose not to take up that offer, but nor did it procure the provision of the additional information.

"Later, it (or PIF specifically) voluntarily withdrew from the process," Masters added, referring to the Saudis' Public Investment Fund.

Masters also dismissed suggestions that rival Premier League clubs vetoed the deal.

"The owners' and directors' test is delegated to and carried out entirely by the Premier League Board," he said.

"Other member clubs have no role whatsoever in the approval process."
AAP via TheWorldGame