Richard Holden, MP for North West Durham, has written to the Premier League following the failed takeover of Newcastle United Football Club (NUFC).
Since 2007, NUFC has been owned by Mike Ashley and plays its home matches at St James’ Park in Newcastle. NUFC is a member of the Premier League. Saudi Arabia’s Public Investment Fund (PIF), headed up by Saudi Arabia’s Crown Prince Mohammed bin Salman, planned to purchase NUFC from Mr Ashley in a move that would have seen PIF acquire 80% of NUFC, with the remaining chunk of the club being owned by the Reuben Brothers and PCP Capital Partners.
However last month, after endless months of negotiations, the PIF suddenly withdrew their bid on the grounds it was not commercially viable for any purchase to be taken forward. It is believed that the coronavirus played a part in this, as did pressure from human rights groups concerned about Saudi Arabian ownership of NUFC. Amnesty International stated that a Saudi Arabian takeover would damage the ‘reputation’ of the game and the Premier League given Saudi Arabia’s ‘actions that are deeply immoral’. It was also reported that other Premier League clubs did not want the takeover to go ahead.
NUFC fans and supporters have been described as ‘heartbroken’ that the takeover will not go forward. Richard has received hundreds of emails from constituents demanding ‘transparency’ from the Premier League about the takeover, raising questions about why the process of the takeover has taken so long, why other Premier League clubs objected to the takeover and stating it is unacceptable to leave fans in doubt for so long about the future of the club. It has also been pointed out that NUFC has been left ‘severely disadvantaged’ as a direct consequence of the delay.
Richard has now written to the Premier League to seek clarity on these issues, saying that the Premier League took an ‘incredibly long period of time’ when proceeding with the takeover and the ‘strength of feeling of fans’ was not taken into account. Richard has also raised his concerns that the North East of England has been ignored in a time when investment and job creation is ‘crucial’. You can see a copy of Richard’s letter on this page.
Commenting, Richard said ‘It is really important that the Premier League answer the questions I have asked on behalf of my constituents and the wider North East. NUFC fans have been hugely let down and many people feel incredibly strongly about this. Not only did the process of the takeover lack transparency, but the fans were ignored, the club has now been disadvantaged as a result of the overly drawn out process and the North East is losing a potentially enormous investment. I am willing to work with the Premier League to get this issue sorted out in a way that works for the NUFC, the fans and all those who are concerned about this, and will update my constituents as soon as I hear any further news about this issue.’
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