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NUFC Club Statement
Interesting statement from the club on the official website:

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) based on its Owners and Directors test.

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 in relation to this matter and will be considering all relevant options available to them.

Mike Ashley understands fans’ frustrations and would like to reassure them that he has been fully committed to ensuring this takeover process reached completion as he felt it was in the best interests of the club. Mike continues to be fully supportive to Steve Bruce, the players and all the staff and wishes them well for the upcoming season.
I have to admit that when the NUST came back from their meeting with Masters at the PL and basically said "He said it was all the Saudi's fault; he said we never did this and we never said that;  so that's OK then.", I was genuinely flabbergasted.  These people are professionally dishonest; they are professional liars.  It is patently obvious that establishing whether or not the people involved in the takeover passed the published O&D test would have taken a fraction of the time that the PL claimed that it was taking.  They dragged their heels and made it obvious that for reasons other than the O&D test, they did not want the Saudi bid to succeed.  They would also have been completely aware of the business case that the Saudi's had made for buying the club and that as lockdown and the supposed O&D test wore on, that case would become less and less viable.  The PL fucked us on this one.  No two ways about it.
Totally agree Eeeeen

There's an agenda here - no way were the so-called "big clubs" going to let us have the backing of the Saudis

It stinks, basically
Agreed, this is more about power playing than anything else and always has been

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