North East UK news Richard Masters wants the Newcastle takeover process 'to conclude shortly' MetiNews.Com
MetiNews.Com - Premier League chief executive Richard Masters faced questions from the Digital, Culture, Media and Sport Committee about Newcastle United's prospective takeover
Breaking News ! Richard Masters admits he would like the process concerning Newcastle United's prospective takeover to conclude 'shortly' - but the governing body's chief insists there is 'no particular time frame' set because 'some takeovers are straightforward and others aren't' The Premier League have been conducting their owners' and directors' test for several months now and the would-be owners - Amanda Staveley, Saudi Arabia's Public Investment Fund and the Reuben Brothers - never envisaged it taking this long. A number of objections have been raised on moral grounds but it has been Saudi's links with beoutQ - the World Trade Organisation ruled the Kingdom 'criminal procedures and penalties' to tackle the pirate bay broadcaster - that have complicated matters. The governing body have to establish, 100%, that Saudi's history with piracy cannot be linked to owners or directors nominated by the consortium. Masters was questioned by the Digital, Culture, Media and Sport Committee (DCMS) on Tuesday about the opportunities and challenges present in the re-opening of sport. The Premier League's chief executive was also asked about Newcastle's prospective takeover by Ochil and South Perthshire MP John Nicolson and when he hopes the test will be completed. "All processes have to conclude and I would like the process to conclude shortly," he said.
. While this process has taken longer than anyone necessarily envisaged, there is no formal guidance on how long the owners' and directors' test can take. "It is the board that considers takeovers," he added. "There's no timetable set as part of the rules. There's no particular time frame that these things normally take. Some takeovers are straightforward and others aren't."
Source = MetiNews.Com