Newcastle United have confirmed they are engaged in an ongoing legal dispute with the Premier League over the recent failed recent takeover, reports, www.sportspromedia.com/.
Owner Mike Ashley indicated his intention to consult his lawyers after a consortium, which included Saudi Arabia's Public Investment Fund (PIF), Amanda Staveley's PCP Capital Partners and the Reuben Brothers, withdrew its UK£350 million (US$464 million) offer for the Magpies following a 17-week wait for the governing body to approve the prospective buyers.
Newcastle Consortium Supporters Ltd claimed this week to have been told of the legal action by the Premier League's lawyers, and the club have now confirmed the move.
In a statement Newcastle alleged the details had been 'leaked' by the league and said: 'The club understands that these will be matters of great concern to its fans and therefore considers that, in light of the information disclosed by the [Premier League], it has no choice but to respond and update its fans in response to this coverage.
'The club makes no comment on the substance of the arbitration, but it can confirm that it has issued arbitration proceedings against the [Premier League].
'It is unclear when those proceedings will be resolved, given the approach of the EPL and its lawyers, Bird & Bird. Nevertheless, the club will continue to use its best efforts to press for a fair, full and timely hearing of its claim.'
