Newcastle Declare Premier League Rejected New Takeover Bid
Newcastle have launched a strongly worded assertion condemning the Premier League’s determination to reject a takeover bid made by PCP Capital Companions, the Reuben Brothers and the Public Funding Fund of Saudi Arabia (PIF) based mostly on its Homeowners and Administrators check.
The Magpies have been linked with a takeover bid for a lot of the calendar 12 months, however all their efforts for brand spanking new possession fell by when the Saudi Arabian-backed consortium rejected the Premier League’s provide of arbitration to find out who would personal the membership.
Hoping to have their newest bid accepted by the Premier League – a deal value £300m that will finish Mike Ashley’s 13-year tenure proudly owning the membership – a brand new deal proposed, however regardless of claims that Newcastle have offered the required proof to permit the takeover to go forward, they have been pushed again as soon as extra.
An announcement on the membership’s official web site learn: “Newcastle United can verify that the Premier League has rejected a takeover bid made by PCP Capital Companions, the Reuben Brothers and the Public Funding Fund of Saudi Arabia (PIF) based mostly on its Homeowners and Administrators check.
“This conclusion has been reached regardless of the membership offering the Premier League with overwhelming proof and authorized opinions that PIF is unbiased and autonomous of the Saudi Arabian authorities.
“The membership and its house owners don’t settle for that Premier League chief govt Richard Masters and the Premier League have acted appropriately in relation to this matter and can be contemplating all related choices obtainable to them.
“Mike Ashley understands followers’ frustrations and wish to reassure them that he has been totally dedicated to making sure this takeover course of reached completion as he felt it was in one of the best pursuits of the membership. Mike continues to be totally supportive to Steve Bruce, the gamers and all of the employees and desires them nicely for the upcoming season.”
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