Yeah, I think the PL have got themselves into a real shitshow and wish the whole thing just didn't exist.
They've obviously got themselves a cartel of powerful opponents to the takeover (the chosen few PL clubs, Qatar via BeIN Sports, others with an axe to grind) who they really don't want to put offside - if these interests weren't applying extraordinary pressure on the PL then the takeover would likely have been approved within the aforementioned 4-5 weeks. I doubt if they are worried about getting sued by those who want to stop the takeover, but they obviously risk commercial arrangements (with the likes of BeIN) and risk a potential revolt from those leading PL clubs (who they may fear leaving the PL to form a new European super league).
But, whilst the PL may wish to bow to those powerful interests (forcing the takeover to not happen) they don't have a clear (or even token) set of criteria against which they can justify stopping the takeover, meaning if they do they know they will get sued into oblivion. They can't afford to define a specific reason for rejecting the takeover because that will give Ashley and the buying consortium a tangible thing to sue the PL over (because it will very obviously be a justification that won't stand up in court).
This leaves the PL under the impression they are in an impossible position - but, the problem they have not reconciled themselves to is that, laws (in this case mostly commercial law, but likely some regulatory laws too) trump other commercial risks. If/when the PL are forced to say "rejected" and forced to give a reason then they risk a substantial lawsuit from Mike Ashley, the buying consortium, and potentially other interests who stand to lose from the takeover not happening (e.g. Newcastle City Council, Reubens, others). Even if the PL decides that the potential lawsuit is going to cost them less than the cost of pissing off BeIN Sport (Qatar) or the preferred clubs, the lawsuit could still cause the PL to go bankrupt because the amounts of money are so huge.
The PL have only got themselves to blame for this - it is through their negligence and incompetence that they did not anticipate the consequences of the ODT (as it is written) and did not properly manage the process from the beginning. They also failed to hold other clubs, those that were purchased prior to the current ODT, to the same standard - and courts take a dim view of hypocrisy. They stuck their heads in the sand, probably assuming that fat-Mike would screw up the deal and they wouldn't have to worry about it, and know they're royally fecked!
In reality what they need to do is accept their medicine, approve the takeover, and then pucker up to kiss the arses of BeIN and the lead PL clubs for the next decade by way of apology. That is the only way they save this - otherwise they may cause the whole Premier League to collapse. They've screwed this up so bad they may cause the league itself to cease to exist (due to lawsuits, loss of lead clubs, loss of sponsors, loss of broadcasting revenues).
This post excites me.
If we can’t have our takeover then I hope the PL suffer big time.
So much for “the Premier League were about to pass it but Ashley started playing games...” Would love to see PCP and co own the club one day but sadly think it’s dead in the water. Hopefully Masters and Keys’ mate resign on the back of this mess at the least. Scumbags.