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Newcastle have confirmed they’re in a authorized dispute with the Premier League over the failed takeover of the membership. A consortium that includes the Saudi Arabia’s Public Investment Fund, Amanda Staveley’s PCP Capital Partners and the Reuben Brothers withdrew its 350 million kilos ($460 million) supply for Newcastle earlier this 12 months following a lengthy await the Premier League to approve the deal.
Newcastle proprietor Mike Ashley had indicated he would seek the advice of legal professionals over the collapse and his membership revealed the authorized case on Thursday in response to alleged “leaks” by the Premier League.
“The club understands that these will be matters of great concern to its fans and therefore considers that, in light of the information disclosed by the EPL, it has no choice but to respond and update its fans in response to this coverage,” a Newcastle assertion mentioned.
“The club makes no comment on the substance of the arbitration, but it can confirm that it has issued arbitration proceedings against the EPL.
“It is unclear when these proceedings might be resolved, given the strategy of the EPL and its legal professionals, Bird & Bird. Nevertheless, the membership will proceed to make use of its finest efforts to press for a good, full and well timed listening to of its declare.”
Ashley, who has owned Newcastle since 2007, has been trying to sell the club for years.
Staveley, who had failed in a previous attempt to strike a deal, appeared confident of a breakthrough this time.
But she and her partners grew increasingly frustrated as hopes of a swift conclusion dissolved with the Premier League’s Owners’ and Directors’ test seemingly proving an insurmountable hurdle.
The consortium insisted it had provided all the answers for which it had been asked, although not to the satisfaction of the governing body, who were seeking clarity over the relationship between the ownership and the Saudi state amid a row over TV piracy, but never formally rejected the bid.
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In addition, Amnesty International had voiced its objections over the Middle East state’s human rights record, accusing it of using Newcastle for “sportswashing” functions.
(This story has not been edited by NDTV workers and is auto-generated from a syndicated feed.)
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