Newcastle United takeover dealt hammer blow with arbitration hearing delayed until next year
The potential takeover of Newcastle United was dealt another hammer blow on Monday evening.
The arbitration hearing, which will decide whether last summer’s proposed £300million sale to a consortium led by Amanda Staveley and backed by Saudi Arabia’s sovereign wealth fund can be resurrected, has been adjourned until ‘early 2022’.
The parties attended a hearing on Monday, July 19 in the case between Newcastle United and the Premier League.
A club statement confirmed: “The main hearing of the arbitration has regrettably now been adjourned until early 2022 due to issues with the disclosure of evidence.
“The parties will be making no further comment at this time.”
Both Staveley and Newcastle owner Mike Ashley have called for transparency from the Premier League and for the hearing to be held in public.
The hearing was set to take place this month though no date was officially set. Now all parties will have to wait until at least next year before the situation is resolved.