Do you think the Premier League obstructed the takeover?
Yes, they played a part in stopping it
No, the consortium just failed to pass the O & D test
One topic of discussion on the podcast was the ongoing saga surrounding the proposed takeover bid by PCP Capital Partners, PIF, and the Reuben brothers.
Since the withdrawal, a legal battle has begun over an issue in the process of how the Owners’ and Directors’ test was carried in the case of the proposal.
Speaking on the legal battle, Kennedy issued an update on Newcastle’s view on the arbitration as the saga continues to unfold.
He said: “I would hope arbitration is never going to be needed or the Premier League would come to their senses and realise the error of their ways, realise the wealth of evidence, the wealth of public opinion against them in this case. (7:10)
“I would hope they would come to their senses and get back [around] the table with Newcastle United, look, that could be happening now. But, who knows.
“I mean, ultimately, we’re in the dark on this. And I think the legal teams are all squaring up for a fight. Mike Ashley’s bang up for the fight. And he has been for quite some time. And I think the consortium are up for a fight as well. They’re determined to sort of dig in and get this deal through, they want this deal and see no reason as to why this deal shouldn’t have went through.
“So yeah, I think it’s gloves on time. But as we know, in this process, these things can take some time. They’re not straightforward process.”
Thoughts on Kennedy’s comments…
This proposed takeover bid seems to have been an incredibly difficult process for the Tyneside club and going by what Kennedy has said it appears it is not going to get any easier as the club is set to battle it out in court.
Matters on the field seem to be matched by those off it as Newcastle fans are left guessing as to where their future lies. However, from what Kennedy has said it does not sound like the takeover issues will be resolved anytime soon.
One thing which is certain is that it is going to make for an antagonising wait for the Toon Army as they wait to find out the result of the arbitration.