Legal action taken against Premier League over failed Saudi takeover by Newcastle

SHARING IS CARING


Mike Ashley, the owner of Newcastle United Football Club has instructed two leading lawyers to represent Newcastle in their dispute with Premier League over its rejection of the club’s Saudi-led takeover.



Blackstone Chambers on Monday said in a statement that two of its barristers would be acting for Newcastle United FC and Mike Ashley in a dispute with the Premier League about its rejection of a takeover bid.

According to the Premier League club, the league rejected a takeover bid that would have seen Saudi Arabia’s public investment fund (PIF) take an 80 percent stake in the club.

They claimed that the conclusion was reached despite the club providing the Premier League with evidence and legal opinions that PIF is independent and autonomous of the Saudi Arabian government.

The Premier League, however, responded to the club, saying that they were surprised and have not rejected Newcastle’s takeover bid.


“The Premier League board has, on a number of occasions, given its opinion about which entities it believes would have control over the club should the consortium proceed with the acquisition. That opinion is based on legal advice,” a league statement read.

“This means the potential takeover could proceed to the next stage should the relevant entities provide all appropriate information.”

The fracas has lead Mike Ashley to appointment QCs Shaheed Fatima and Nick De Marco of London law firm Blackstone Chambers.





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