Newcastle United’s arbitration proceedings against the Premier League over last year’s aborted takeover bid have been adjourned until early 2022.
Both parties have agreed to go to arbitration in early 2022 due to issues with the disclosure of evidence.
The news will come as a huge disappointment to Newcastle fans, who had been hoping the proposed takeover by financier Amanda Staveley’s firm PCP Capital Partners and Saudi Arabia’s Public Investment Fund might go through before the new season.
The delay means current owner Mike Ashley could remain at the helm for the whole of the 2021/22 campaign, which may have an impact on any potential transfer budget available to manager Steve Bruce.
A joint statement from Newcastle and the Premier League on Monday read: “The parties attended a hearing today in the case between Newcastle United and the Premier League.
“The main hearing of the arbitration has regrettably now been adjourned until early 2022 due to issues with the disclosure of evidence.
The proposed takeover collapsed last summer when it was being scrutinised under the Premier League’s owners and directors’ test, due to a possible link between the Public Investment Fund and the Saudi Arabian state.
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By FARPost Reporter