The Premier League chief executive Richard Masters has made a bold vow over Newcastle United’s ownership, resurfacing after a bombshell Saudi court revelation.
The Saudi Arabian Public Investment Fund (PIF) is the proposed owner of the Magpies, with a £300million takeover bid on the table.
But the deal has been held up by the Premier League’s owners’ and directors’ test, with the league’s chief executive Richard Masters vowing to take a “rigorous” approach to the process.
The PIF is owned by the Saudi Arabian government, and the league has been investigating the country’s human rights record and the potential for piracy of Premier League matches.
Now, a bombshell revelation from a Saudi court has cast further doubt on the takeover.
The court has ruled that the PIF is not a government entity, but rather a private company owned by the Saudi Arabian government.
This could have major implications for the takeover, as the Premier League’s owners’ and directors’ test requires that any potential owner must be a “fit and proper person”.
The court ruling could mean that the PIF is not eligible to pass the test, and the takeover could be blocked.
However, Richard Masters has vowed to take a “rigorous” approach to the process, and has said that the league will take into account all relevant information before making a decision.
He said: “We will take into account all relevant information and evidence, including the recent court ruling, before making a decision on the proposed takeover.
“We will continue to take a rigorous approach to the owners’ and directors’ test and will make a decision when we have all the necessary information.”
The Premier League has yet to make a decision on the takeover, but the court ruling could have major implications for the deal.
It remains to be seen whether the PIF will be able to pass the owners’ and directors’ test, and whether the takeover will be approved.
In the meantime, Richard Masters’ bold vow to take a “rigorous” approach to the process has resurfaced, and it remains to be seen whether the Premier League will be able to make a decision on the takeover.
