Steve Wraith has been speaking on a recent episode of his YouTube show NUFC Matters, discussing the failed takeover of Newcastle United.
Wraith spent quite a bit of time on Amanda Staveley’s Saudi-backed bid to take over the Toon which was ended last month, and one topic that came up during the show was the Premier League’s owners’ and directors’ test.
It seems that, according to Wraith, Staveley and the Reuben brothers passed the Premier League’s tests, and the problems were with PIF.
He said: “My understanding is that PCP, Amanda Staveley and her husband [Mehrdad Ghodoussi]; and the Reubens have taken the owners’ and directors’ test and they’ve passed it.
“Whereas, there’s been concern over PIF – and with them being the majority shareholder, of course, they [the Premier League] would be well within their rights, if they felt that they could, to reject somebody.
“So, it’s a mess.”
Are you surprised PCP and the Reubens passed?
No, they were never the problem
Yes, I thought they either passed or failed collectively
TIF Thoughts…
Since the deal was withdrawn on 30th July, MPs asked the Premier League for answers.
Finally, last Friday, they responded and essentially claimed that they could not separate PIF from the Saudi state and offered arbitration in order to resolve this issue.
PIF refused and then pulled out of the deal, while the Premier League also claimed that despite taking 17 weeks, at no point had they reached a point where they had to decide on the takeover, according to the letter sent to an MP by chief executive Richard Masters explaining the Premier League’s position.
The consortium has since claimed that arbitration is something that is usually offered once a deal is rejected, so to do it before a verdict has been reached seems to make little sense.
However, it is clear that the problems with this proposed takeover of Newcastle lie with PIF, and either they or Saudi Arabia might have to make some changes if they are serious about buying the Toon.