The Premier League has been strongly opposed to the PIF’s attempt to take over Newcastle United. Richard Masters and his staff looked for any small reason to prevent the takeover from going through.
Masters and the Premier League eventually succumbed, and the takeover occurred, but the campaign against Newcastle and their new owners has never ceased.
Financial regulations were quickly implemented to prevent Newcastle’s mega-wealthy owners from pouring money into the club to speed growth, and a new law is poised to be debated in Parliament that will force the PIF to give up.
The move will also have an impact on Manchester City’s ownership, as the measure is supposed to prohibit clubs from being’state-owned’, which neither club is, but they do use cash generated by the state, which is how the new rule would be framed.
Politicians are attempting to force Newcastle and Manchester City owners out.
According to The Sun, lawmaker Lord Bassam has argued that no club should be’state-owned’ and granted an operational licence, as reported in The Times.
While the bill is coming from outside the Premier League, they must be participating in some way.
Fortunately, legal and political impediments are expected to prevent the law from moving forward.
Parliament was allegedly involved in ensuring the transaction was approved.
It’s worth noting that there was a lot of outrage about Parliament becoming involved in ensuring the PIF-backed takeover of Newcastle was approved, and now they’re attempting to reverse it.
While we completely understand the opposing viewpoint of having state-run football teams, Newcastle are a perfect example of how little that truly matters.
The PIF has more money than sand, yet none of it can be used to fund Newcastle United. So, who cares who owns the clubs if they can’t spend their own money as they want?
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