A potential takeover of Newcastle United is set to be delayed once again after the club’s arbitration proceedings against the Premier League were adjourned until next year.
The proposed takeover bid of the Magpies by Amanda Staveley’s PCP Capital Partners and Saudi Arabia’s Public Investment Fund collapsed last summer whilst under investigation by the Premier League’s owners and directors’ test, due to a possible link between the Public Investment Fund and Saudi Arabian state.
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The consortium pulled out of the deal, though remain interested in taking over at St James’ Park and current owner Mike Ashley opened a legal against the Premier League in order to try and push the deal through.
“The parties attended a hearing today in the case between Newcastle United and the Premier League,” reads a joint statement from the pair.
“The main hearing of the arbitration has regrettably now been adjourned until early 2022 due to issues with the disclosure of evidence.
“The parties will be making no further comment at this time.”
Newcastle have said they have ‘nothing to hide’ and had applied for the hearing to be in a public forum, though the Guardian report that there is a ‘reluctance to disclose particular pieces of evidence on the part of both sides’.
The news of the delay is likely to impact Newcastle’s transfer budget during the summer window, with owner Ashley having so far failed to hand manager Steve Bruce investment amid the uncertainty surrounding his ownership.
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