Newcastle United are the subject of interest from Amanda Staveley’s firm PCP Capital Partners and Saudi Arabia’s Public Investment Fund who tried to takeover the club in a £340m deal last year but had the move blocked by the Premier League.
The proposal is with an arbitration panel, but there haven’t been a lot of updates and Staveley is frustrated with the lack of transparency. Sky Sports reported on Monday that the financier wrote an open letter to Tracey Crouch, the former Conservative sports minister, accusing the Premier League of a lack of accountability.
She told Sky Sports: “I wrote a letter urging the government and football regulators to make sure that the issues around sporting governance and arbitration around sport be held in public.”
Staveley said she also contacted Oliver Dowden and Nigel Huddlestone but hadn’t received a response. The financier isn’t happy that a confidential arbitration processes is used to resolve disputes and questioned whether it should still be used.
The ongoing story went viral on social media and led to a lot of tweets from angry Newcastle supporters who don’t like being left in the dark about the future of their club. The Magpies need significant investment and current owner Mike Ashley needs to sell up, but nothing can get done with the proposal blocked.
In other news, Jamal Lewis works on fitness with coach and hails player’s transfer
