Premier League will not review Saudi deal with Newcastle after Bin Salman claims | first division

The Premier League sees no reason to review the legality of Newcastle United's takeover by Saudi Arabia's sovereign wealth fund following reports of Crown Prince Mohammed bin Salman's decision. Wide participation in the agreement..

A set of leaked WhatsApp messages from former Newcastle minority co-owner Amanda Staveley, obtained by the Telegraph, suggest the purchase was dependent on the approval of Bin Salman, the kingdom's de facto leader. Although the £305m takeover led by the Saudi Public Investment Fund in 2022 was approved only once first division received “legally binding assurances” that the Saudi state would not control Newcastle, it is understood the governing body will not re-examine its legitimacy.

The Premier League declined to comment when contacted by The Guardian but it is understood that, despite Bin Salman's position as president of the PIF, the league remains convinced that there is, and always has been, a clear separation between the Saudi state and those responsible for Newcastle.

While Staveley's leaked messages also highlighted the UK government's enthusiasm for potentially approving the takeover, it is understood that the Premier League was not influenced by any political agenda. Furthermore, such external influences had no effect on the application or test result of its owners and directors.

Although foreign states are not prohibited from owning Premier League clubs, the kingdom's less than pristine human rights record raised serious questions about Saudi ownership, particularly as a CIA report concluded that Bin Salman was responsible for ordering the murder of the Washington Post journalist and Saudi dissident. Jamal Khashoggi in Istanbul in 2018. Bin Salman has always denied his personal involvement. Through his lawyers, Staveley told the Telegraph that he only referred to Bin Salman in his capacity as president of the PIF.

The sovereign wealth fund owns an 85% stake in Newcastle with the remaining 15% controlled by billionaire British property developers Reuben Brothers. Staveley, a key catalyst in negotiating the deal between former Newcastle owner Mike Ashley and the PIF initially acquired a 10% stake but sold it and resigned from the board of directors in July.

Meanwhile, Premier League clubs will meet on Tuesday to discuss changes to top-tier financial regulations following a legal challenge by Manchester City.

Clubs must debate where shareholder loans fit within the league's rules on transactions between associated parties after an arbitration panel said that by excluding such loans they breached competition law. City accused the league of “misleading” clubs about the precise meaning of the ruling. published on October 7and we have interpreted it as overriding all APT rules.

Although the Premier League has asked the arbitration panel for clarification on the implications of the ruling, its initial reading of that verdict was very different and a high degree of confusion remains.

APT regulations aim to ensure that commercial agreements between clubs and entities linked to their ownership are completed at fair market value (FMV), thereby preventing such contracts from being artificially inflated to increase revenue and circumvent profit regulations. and sustainability.