The financier behind the Newcastle United takeover, Amanda Staveley has called upon the government in making the future ownership of a football club in the Premier League transparent. She is spearheading the takeover by her firm along with Saudi Arabia’s Public Investment Fund. A £340m bid was turned down by the arbitration panel of the Premier League last season. Last week, Staveley had written an open letter to Tracey Crouch about the lack of transparency around the deal.
“I wrote a letter urging the government and football regulators to make sure that the issues around sporting governance and arbitration around sport be held in public,” Amanda Staveley said about the Newcastle takeover bid. “We think that this is very important for fans and particularly important for all those stakeholders in sport. Transparency is at the heart of our request, so transparency in sport is really what we’re trying to seek.”
“I contacted both Oliver Dowden and Nigel Huddlestone, I sent a letter to them earlier this afternoon [Monday], we haven’t received a response but Tracey responded to us very quickly,” she added. “We asked Mr. Dowden to take the same issues I raised in the letter with Tracey to the government’s heart and we want to urge the government to add their voice to our request to the Premier League to have these processes may be in public.”
The current owner, Mike Ashley has urged to make the arbitration process public as well as asked for greater transparency in the process. Ashley has worked tirelessly over the last two years to sell the club. His search for a potential buyer with deep pockets to protect the club’s larger interests has only lead to disappointment. He maintained it is not about the cash going into his pockets.