The Premier League denies blocking the Saudi Arabia-backed takeover in Newcastle

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The Magpies released a statement earlier this week accusing senior officials of rejecting the deal, to which they were quick to respond

The Premier League has denied blocking a collapsed Saudi takeover in Newcastle, calling the club's recent allegations "false".

Magpie's owner Mike Ashley reportedly signed a £ 300 million ($ 387 million) agreement with Saudi Arabia's Public Investment Fund (PIF), PCP Capital Partners of Amanda Staveley and the Reuben Brothers back in April.

However, the consortium pulled out of business two months later after becoming frustrated that the Premier League was not urgent enough in approving its offer.

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Ashley criticized top and CEO Richard Masters for the failed deal and confirmed that the club will seek legal advice on possible next steps on Wednesday evening.

Newcastle posted the following statement on its website: "Newcastle United can confirm that the Premier League has rejected a takeover bid from PCP Capital Partners.

"The club and its owners do not accept that the Premier League executive director Richard Masters and the Premier League have acted appropriately on this matter and will consider all relevant options available to them."

The Premier League then shifted the blame back to PIF investors, insisting that they had not provided all of the necessary information to move the proposed acquisition forward.

The top governing body of English football issued an official statement on Thursday saying: "The Premier League has been disappointed and surprised at Newcastle United Football Club's statement regarding the possible acquisition by PCP Capital Partners, Reuben Brothers and Public Investment Fund of Saudi Arabia (PIF).

"The club's claim that the Premier League rejected the takeover is wrong.

"The Premier League Board has given its opinion on multiple occasions as to which companies it believes would have control of the club if the consortium were to proceed with the acquisition. This opinion is based on legal advice.

"This means the potential acquisition could move to the next phase if the relevant companies provided all appropriate information. They would then be subject to a suitability review by the Board of Directors. As an alternative, the Board of Directors has repeatedly offered independent arbitration since June.

"It is also wrong to claim that these decisions were made by an individual. They were unanimously adopted by all Premier League board members."

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