17 total views, 2 views today
Businesswoman Amanda Staveley has criticised the Premier League over a ”closely guarded lack of transparency” over the potential takeover bid of Newcastle United.
Stavely, who was the financier of a £300 million takeover of Newcastle United has come out with a letter to the British Conservative Party member Tracey Crouch, who is leading a government-commissioned review of English football’s governance.
In the letter, Ms Staveley has pointed the finger at the Premier League over the legal proceedings that will ultimately determine the ownership of Newcastle.
Stating a ”closely guarded lack of transparency” and that the league has raised ”an effective shield against public scrutiny.
— The Chronicle (@ChronicleNUFC) July 4, 2021
The use of confidential arbitration processes to fix the in-house fighting within the English football pyramid was heavily criticised by Staveley in her letter, adding;
“One might justifiably ask why that model is so favoured by those responsible for regulating the sport if they have nothing to hide.”
Ms Stavely’s letter addressed many of the issues and actions over her proposed takeover last year after a consortium consisting of her firm, PCP Capital Partners and a Saudi Arabia Public Investment Fund (PIF)withdrew its offer to buy Newcastle United.
Which ultimately failed due to the Premier League Owners and Directors Test.
However, The Premier League has denied any wrongdoings in the rejection of the takeover.
Citing that it was never PCP’s bid that was the issue, coming to the conclusion that the PIF is controlled by the Kingdom of Saudia Arabia, which stopped the takeover from moving forward.
The Letter and Club Statement
In Staveleys letter, she wrote;
“Fans surely deserve absolute transparency from the regulators across all their processes – to best ensure that they act responsibly.
“They are performing a function like that of a government regulator – but without the same systems for accountability.”
The Club released a statement surrounding the arbitration case against the Premier League, telling the league the case for greater transparency in the sport.
The club has issued a statement in relation to its ongoing arbitration against the Premier League. #NUFC
— Newcastle United FC (@NUFC) July 1, 2021
“Gone are the days when important decisions that affect clubs and their fans should be made secretly, behind closed doors and away from the public eye,” the statement read.