FILE PHOTO: Soccer Football – Premier League – Newcastle United v Arsenal – St James’ Park, Newcastle, Britain – May 2, 2021 General view during the warm up before the match Pool via REUTERS/Molly Darlington /File Photo
July 19, 2021
(Reuters) – Newcastle United’s arbitration proceedings against the Premier League over last year’s aborted takeover attempt have been adjourned until early 2022 due to “issues with the disclosure of evidence”, the Premier League club said on Monday.
The proposed 305 million pound ($417.06 million) takeover by a consortium which included Saudi Arabia’s sovereign wealth fund PIF, PCP Capital Partners and the Reuben Brothers collapsed in July when the group announced they were ending their interest.
Newcastle owner Mike Ashley had initiated legal proceedings against the Premier League earlier this year, accusing the league of acting inappropriately in rejecting the takeover bid.
“The parties attended a hearing today in the case between Newcastle United and the Premier League,” the club said.
“The main hearing of the arbitration has regrettably now been adjourned until early 2022 due to issues with the disclosure of evidence.”
The deal had initially been delayed by the Premier League’s owners and directors test.
The league’s chief executive Richard Masters said at the time that it collapsed after the consortium declined to take up the Premier League’s offer of independent arbitration to decide who would own the club.
The bid had been criticised by human rights campaigners and had raised questions about pirate broadcasts of Premier League games in Saudi Arabia.
($1 = 0.7313 pounds)
(Reporting by Rohith Nair in Bengaluru; Editing by Ken Ferris)
Source: One America News Network
