Premier League chief Richard Masters breaks Newcastle United takeover silence
Top flight chief executive Richard Masters has broken his silence over Newcastle United’s takeover dispute with the Premier League.
The PCP Capital Partners-brokered, Public Investment Fund of Saudi Arabia-led bid for Newcastle United was initially finalised with Mike Ashley way back in March 2020.
But the saga has dragged on for months and in November it was confirmed the club had issued arbitration proceedings against the Premier League in regards to the stalled PIF, PCP and Reuben Brothers takeover.
It is understood the club's arbitration with the Premier League, in relation to the application of the owners’ and directors’ test, will see progress this month, as revealed by the Gazette at the weekend.
While giving little away, Masters did say that he hopes the matter will be ‘resolved in a timely manner.’
In a letter shared on social media, Masters, has spoken about the arbitration process in his response to a letter from Blaydon MP Liz Twist.
Masters wrote: "Arbitrations are generally held in private, and this is no exception.
"There are generally good reasons why parties choose to have disputes resolved by way of confidential arbitration: for example it can be more informal, it protects sensitive information and it encourages honesty and frankness from parties and witnesses."
Masters ended the letter with: "I would like to reiterate that it is the Premier League's desire to have the matter resolved in a timely manner."
Meanwhile, the Conservative Party has responded to Newcastle Consortium Supporters Ltd's 10 questions for Boris Johnson – but Keith Patterson is demanding answers from the Prime Minister himself.
On December 31, NCSL director Patterson sent a nine-page letter to 10 Downing Street requesting the Prime Minister nail his colours to the mast and show his support, or otherwise, for the stalled Public Investment Fund of Saudi Arabia, PCP Capital Partners and Reuben Brothers buy out of Newcastle United.
Patterson set Midnight, tomorrow – January 13 – as a deadline for the PM to respond.
And on the eve of that deadline, Patterson has revealed the detail of a 75-minute Zoom meeting with Jack Bell, chief of staff to Dehenna Davison, MP for Bishop Auckland.