MIKE ASHLEY is threatening to sue the Premier League for rejecting the Saudi-backed takeover.
The deal looked dead and buried after the consortium fronted by Amanda Staveley withdrew their £300million offer in July.
Mike Ashley’s Newcastle have hit back at the Premier League for rejecting the Saudi takeover of the clubCredit: Reuters
Amanda Staveley was attempting to push through the takeover on behalf of the Saudi consortium Credit: PA:Press Association
But the furious Sport Direct chief last night confirmed the bid was officially rejected.
And in an explosive statement, Ashley accused the Prem and its CEO Richard Masters of acting “inappropriately” and now could take legal action.
Ashley’s statement read: “Newcastle United can confirm that the Premier League has rejected a takeover bid made by PCP Capital Partners, the Reuben Brothers and the Public Investment Fund of Saudi Arabia (PIF).
“This conclusion has been reached despite the club providing the Premier League with overwhelming evidence and legal opinions that PIF is independent and autonomous of the Saudi Arabian government.
“The club and its owners do not accept that Premier League chief executive Richard Masters and the Premier League have acted appropriately and will be considering all relevant options available.”
PIF was set to buy an 80 per cent stake in the Magpies, with Staveley’s PCP Partners and the Reuben brothers taking 10 per cent each.
But the Prem said they could not approve the deal on piracy grounds after concluding the Saudi state and PIF were not separate legal entities.
And last month, the takeover looked dead and buried as Masters revealed that Saudi Arabia refused to take these concerns to tribunal.
Questions remain as to what grounds Ashley – who had a team meal with the squad and manager Steve Bruce last night after arriving in his helicopter – could take legal action, with an appeal a possibility.
Yesterday, Masters insisted the Prem had acted accordingly – but admitted they might have to change aspects of the Owners and Directors Test.
He said: “Ultimately we do think we did it correctly. I do understand their frustrations – they want information and to know what’s going on. We will take stock of what happened and be as transparent as we can be.”
Also speaking yesterday, Bruce admitted he feared the sack while the takeover hung in the balance.
Bruce, who has spent £35million on new signings Callum Wilson, Ryan Fraser and Jamal Lewis this week, said: “A new brush always sweeps clean, so I was under no illusions of what might be coming.
“I always said, whatever is best for the club, I would go along with. If that means a takeover and I wasn’t there, then I was always of that mindset.”
The Saudi consortium withdrew their Newcastle takeover bid in JulyCredit: PA:Press Association
Newcastle complete Ryan Fraser free transfer as he joins old Bournemouth pal Callum Wilson through the door
Source: Soccer - thesun.co.uk
