The Daily Mail newspaper confirmed the failure of the Mohammed bin Salman acquisition of “Newcastle” club after the Saudi investment fund announced shortly before its withdrawal from the deal, and “Mike Ashley” the current club owner retains the amount of 17 million pounds that the crown prince had paid him as a first payment . The acquisition was under consideration by the Premier League for 17 weeks.
For its part, the Daily Miro newspaper pointed out that the withdrawal of the Saudi investment fund, the “Newcastle” deal, came after the lengthy scrutiny of the owners’ cleanliness and objections to the Saudi takeover of the club, especially after the Saudi regime’s involvement in piracy of the English network content was proven.
The acquisition failed
The report said this news comes after four months of scrutiny from the Premier League after concerns about piracy and human rights complaints in Saudi Arabia. The Saudi Public Investment Fund, BCB Capital Partners and RB Sports & Media have announced their formal withdrawal from the acquisition.
The Saudi equity-backed fund blamed the “protracted process” of the acquisition – and the scrutiny it had undergone by the English Premier League and government – as the global uncertainty surrounding the Corona virus pandemic led to the collapse of the deal. The campaign to combat the arms trade had called for a renewed “testing of the right and appropriate people” and for football clubs not to be “propaganda vehicles for dictatorships.”
The proposed acquisition has singled out a lot of criticism across the country, especially after Saudi Arabia appealed the historic piracy ruling – which put new questions on the huge money deal.
The World Trade Organization released a report last month that proved that representatives of the Saudi state facilitated the activity of the Pirate Network, an outfit that illegally broadcasts a range of sporting events, including premier league matches. Saudi Arabia initially claimed that the WTO decision was a justification, but the World Trade Organization has since confirmed an appeal against it.
And the report continued: The documents related to the acquisition of 300 million pounds in St. James Park from the current owner Ashley in the English Premier League in April, but the offer was checked all the time under the test of owners and managers. The statement pointed to the economic uncertainty caused by the Corona virus, as a major factor in the acquisition’s decline.
“Ultimately, during the unexpectedly protracted process, the trade agreement between the investment group and the club owners expired, and it was not possible to preserve our investment thesis, especially with no clarity regarding the circumstances in which the next season will start and the new standards that will It arises for matches, training and other activities.
Delayed withdrawal
For its part, the Daily Mirror newspaper said that the deal has been suspended with the English Premier League for months, but that the potential new owners have now retracted as a result of the delay in announcing the deal. The consortium, led by Crown Prince Mohammed bin Salman, which includes BCB Capital Partners and Robin Brothers, was waiting Getting the green light to take over the club, but they have now withdrawn completely after a long scrutiny of the deal.
“Ultimately, during the unexpectedly prolonged process, the trade agreement between the investment group and the club owners expired, and our investment thesis could not be preserved,” she said in a statement.
The report added: The deal was subject to the testing of the owners and managers of the Premier League, which caused a long delay in the procedures. Global trade The representatives of the Saudi state have facilitated piracy activity.
After the decision, Premier League CEO Richard Masters said: “The English Premier League does not want to abandon the WTO report and our other sporting efforts is for Saudi Arabia to respond positively to the situation and allow sports rights holders to protect their rights.”
Since then, Saudi Arabia has banned QN Sports from broadcasting, which means that there were no legal means to watch English sports in Saudi Arabia. After sparking the piracy process, BN Sport’s relationship with the English Premier League suspended the entire deal after 17 weeks of stagnation.
