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Newcastle United: Arbitration with Premier League postponed due to takeover

Newcastle United finished 12th in the 2020-21 Premier League

The arbitration negotiations between Newcastle United and the Premier League to take over the club were postponed to early 2022.

The adjournment refers to “evidence disclosure issues” which are understood to affect both parties.

The news will be a huge disappointment to Newcastle fans who were hoping a Saudi Arabia-led £ 300m acquisition would end the reign of owner Mike Ashley.

Newcastle has been owned by Ashley since 2007.

The owner of Magpies was unhappy with the Premier League’s failure to make a decision on the acquisition. that collapsed last year.

The club’s claim centers on the way the Premier League applied its owner and director test in evaluating an offer.

Earlier this month, Newcastle requested that the complaint be heard in public and said it had “nothing to hide” from arbitration.

A joint statement by Newcastle and the Premier League said on Monday: “The parties attended a hearing today in the case between Newcastle United and the Premier League.

“The main hearing of the arbitration has now unfortunately been postponed to the beginning of 2022 due to problems with evidence.

“The parties will not make any further comments at this point.”

The Saudi Arabia-backed consortium, which included Saudi Arabian sovereign wealth fund PIF, PCP Capital Partners and Reuben Brothers, struck a £ 300m deal to buy Newcastle from Mike Ashley in April 2020.

However, it pulled back the following July, with the deal still under review as part of the Premier League owners and directors test frustrated not to make a decision.

The league’s chairman of the board, Richard Masters said The consortium disagreed with the Premier League’s conclusion that an entity would have control of the club and declined an offer to arbitrate to determine who would own the club.

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