Newcastle takeover in doubt as WTO fire Premier League approval warning over £300m deal

Newcastle takeover in doubt as WTO fire Premier League approval warning over £300m deal

The World Trade Organisation (WTO) say the Premier League should not approve Newcastle‘s proposed £300m takeover. Toon owner Mike Ashley has agreed to sell the club to PCP Capital Partners, an organisation backed by the Public Investment Fund of Saudi Arabia.

However, talks over the deal have stalled in recent weeks.

There has been plenty of opposition to the deal, with many urging the Premier League to reject the takeover bid.

The WTO have put together a report on whether Saudi Arabia’s government have been involved in illegal streaming of sport, including Premier League action.

The report was finalised on Tuesday, with the WTO urging the Premier League to reject the takeover bid.

They said: “Should the Premier League approve the Newcastle takeover by KSA, it would be acting inconsistently with its own decisions and factual evidence as part of the WTO proceedings.”

It’s claimed the WTO report condemned Saudi Arabia in the strongest possible way over piracy.

The WTO say the Saudi government is behind beoutQ, which offers illegal streams to sporting events.

The likes of Fifa, Uefa, the Premier League, La Liga have tried to take action against beoutQ, however, the copyright cases were unsuccessful.

Published at Tue, 16 Jun 2020 10:15:00 +0000