Premier League should give Newcastle fans clarity over significant delay in takeover, asserts Boris Johnson
Boris Johnson, the Prime-Minister of the United Kingdom, has asked the Premier League to reveal why there was a delay in Newcastle United’s takeover. An 80% share of the Magpies were to be sold to a group that included Saudi Arabia's Public Investment Fund but they pulled out of the £300m deal.
After months of speculation, in the end Newcastle United’s proposed takeover was dead in the water after the Investment Group ended their interest. The group consisted of Saudi Arabia's Public Investment Fund, PCP Capital Partners and Reuben Brothers with them set to take an 80 percent stake in the Premier League club worth over £300 million. But reports indicated that the proposed takeover was still being scrutinised by the Premier League which eventually saw the group pull out.
They cited a “prolonged process” “coupled with global uncertainty” which rendered the “potential investment no longer commercially viable”. That combined with the lack of noise from the Premier League has seen over 6000 Newcastle United Supporters Trust (NUST) members write to MPs to ask the league for transparency which has seen Boris Johnson respond. The Prime Minister of the United Kingdom, in an email to NUST, asked the Premier League to give the fans clarity and release a statement on the case.
"I appreciate that many Newcastle fans were hoping this takeover bid would go ahead and can understand their sense of disappointment. I have seen the recent email sent to Newcastle fans from the Independent Football Ombudsman and agree with their conclusion that the Premier League should make a statement on this case," Johnson wrote, reported Sky Sports.
“I am pleased that the Ombudsman has committed to advising the Premier League to provide a statement. There must be clarity on why there was a significant delay in a decision being made, and on the reasons why the consortium decided to withdraw their bid."
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