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Takeover Thread - July 1st statement, Staveley letter to Tracey Crouch (and response) in OP

Yorkie

by Yorkie
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Bishops Finger

Bishops Finger

Posted
Posted
1 minute ago, Ketsbaia said:

July 1st, man. Fuck.

 

We're stuck with Bruce and Ashley for a decent chunk of this season aren't we? At least.  :weep:

I think we're going to see the transfer window slam shut without anything happening so I don't hold up much hope of us being clear of the relegation zone before it opens again

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Fantail Breeze

Fantail Breeze

Posted
Posted
42 minutes ago, Jackie Broon said:

 

I think he's probably wrong that a new O&D test submission would be needed, I think the PL would have to continue with the one that was submitted if they lose the arbitration, and/or that it would take a long time. But he is right that the test was never carried out on the other proposed directors, that was confirmed in the high court judgement.

 

Was it not said the O&D test was refused at one point? Not sure if he is right but that could be an explanation.

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Ankles Bennett

Ankles Bennett

Posted
Posted
16 hours ago, RS said:

Nail in coffin?  Last straws being grasped? Who’s the next manager us deluded fools are thinking is waiting for the glorious takeover?

if they really want Benitez once (if) the takeover goes through I have no doubt they will buy out his contract at Everton! 

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Ankles Bennett

Ankles Bennett

Posted
Posted
15 hours ago, Fantail Breeze said:

 

NUFC might have thought so. Just like the PL think challenging jurisdiction is a necessary delay. 

 

Your argument falters a bit because we were told so strongly after NUFC failed in that case that it wasn’t a problem and it was likely to fail. The point being, if NUFC wanted to progress quickly, they didn’t need to challenge.

 

It also doesn’t answer why NUFC delayed to lodge the CAT case.

and you are missing the point that by challenging the appointment of Beloff they ensured that he will have to be completely impartial.  Any hint of illegally favouring the EPL case will be grounds to have that decision overturned on appeal 

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Fantail Breeze

Fantail Breeze

Posted
Posted

The only other point to make is Edwards is probably posting this through Bruce’s frustration. As his media mouthpiece, it’s quite likely that Patsy isn’t too happy about the lack of business.

 

:memelol:

 

Can’t wait until December when the sale is put on hold because of a relegation battle. 

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Jackie Broon

Jackie Broon

Posted
Posted
21 minutes ago, Fantail Breeze said:

 

Was it not said the O&D test was refused at one point? Not sure if he is right but that could be an explanation.

 

Ashley said the O&D test had been refused in September, which the PL then denied.

 

The PL's 'decision letter' from 12th June 2020 is included in the high court judgement. It basically says that they had made a provisional conclusion that the KSA would be a person in control of the club but would take into account any other submissions from the club before making a final decision, after which they would go forward with the test on the other directors if that decision were that the KSA would not be in control. But it seems that they never actually made that final decision and instead insisted on arbitration. 

 

"From the information you have provided, [PLL] is provisionally minded to conclude that KSA satisfies both elements in the test for “Control” over [NUFC] through its control over PIF (which, as noted, recognises that it will be a Director). In summary: 1. As to management, … PIF’s directors are appointed by Royal Decree, and its current board is almost exclusively composed of KSA Government Ministers. The PIF Law puts [it] expressly under the direction of … a KSA Government Ministry. Its function is to serve the national interest of KSA. 2. As to ownership, it would appear that PIF is state-owned, and that it manages only state-owned assets.

 

Again, if you disagree with either of these provisional conclusions, we would welcome your reasoned response. Following receipt of any submissions, [PLL] will fully consider them before reaching a final decision on the issues.

 

If [PLL] then decides that KSA will not become a Director, then it will proceed to a decision on the application of Section [F] to the individuals who have been declared, including PIF. However, should the Board decide that KSA is also to be regarded as a future Director, then there will have to be a declaration in respect of KSA and the Board’s decision on the application of [Section F] will have to be made in respect of KSA also.”

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Ankles Bennett

Ankles Bennett

Posted
Posted
13 minutes ago, Jackie Broon said:

 

Ashley said the O&D test had been refused in September, which the PL then denied.

 

The PL's 'decision letter' from 12th June 2020 is included in the high court judgement. It basically says that they had made a provisional conclusion that the KSA would be a person in control of the club but would take into account any other submissions from the club before making a final decision, after which they would go forward with the test on the other directors if that decision were that the KSA would not be in control. But it seems that they never actually made that final decision and instead insisted on arbitration. 

 

"From the information you have provided, [PLL] is provisionally minded to conclude that KSA satisfies both elements in the test for “Control” over [NUFC] through its control over PIF (which, as noted, recognises that it will be a Director). In summary: 1. As to management, … PIF’s directors are appointed by Royal Decree, and its current board is almost exclusively composed of KSA Government Ministers. The PIF Law puts [it] expressly under the direction of … a KSA Government Ministry. Its function is to serve the national interest of KSA. 2. As to ownership, it would appear that PIF is state-owned, and that it manages only state-owned assets.

 

Again, if you disagree with either of these provisional conclusions, we would welcome your reasoned response. Following receipt of any submissions, [PLL] will fully consider them before reaching a final decision on the issues.

 

If [PLL] then decides that KSA will not become a Director, then it will proceed to a decision on the application of Section [F] to the individuals who have been declared, including PIF. However, should the Board decide that KSA is also to be regarded as a future Director, then there will have to be a declaration in respect of KSA and the Board’s decision on the application of [Section F] will have to be made in respect of KSA also.”

So if PIF is found to be separate from KSA the PL will carry out the O&D on PCP and the Reubens.  Any bets taken that one of them will fail the O&D test?  

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RS

RS

Posted
Posted
52 minutes ago, Ankles Bennett said:

if they really want Benitez once (if) the takeover goes through I have no doubt they will buy out his contract at Everton! 

I know this is tongue in cheek but if it wasn’t it’s the perfect example of the desperation in our fan base. 

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Joey Linton

Joey Linton

Posted
Posted (edited)
44 minutes ago, Ankles Bennett said:

and you are missing the point that by challenging the appointment of Beloff they ensured that he will have to be completely impartial.  Any hint of illegally favouring the EPL case will be grounds to have that decision overturned on appeal 

You probably need to read what the judge actually said about the challenge. He said there were absolutely no concerns about the appointment, so in reality they've "ensured" nothing. His position is one of complete impartiality according to the judge. 

 

https://www.lawgazette.co.uk/news/newcastle-united-loses-bid-to-have-top-lawyer-recused-from-arbitration/5107720.article

 

 

 

Edited by Joey Linton

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DurhamMag

DurhamMag

Posted
Posted
1 hour ago, mrmojorisin75 said:

Where's this "millions" in solicitors fees coming from like?  

 

Also worth remembering he trousered £17m for absolutely nothing when it fell apart.

Well I am sure De Marco and Shaheed Fatima dont come cheap!! How long they been working on this now... The usually charge by the hour and it wont be cheap!!
I don't think the £17m has been pocketed just yet either as this is ongoing.

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mrmojorisin75

mrmojorisin75

Posted
Posted
9 minutes ago, DurhamMag said:

Well I am sure De Marco and Shaheed Fatima dont come cheap!! How long they been working on this now... The usually charge by the hour and it wont be cheap!!
I don't think the £17m has been pocketed just yet either as this is ongoing.

 

No, it was widely reported he kept the 5% deposit when they Saudis withdrew.  Graves even refers to the £17m in that tweet a little further up the page.

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TRon

TRon

Posted
Posted

Luke seems rattled. Why is he even considering whether the owners and directors test will happen before the start of next season when he has always insisted there's no takeover imminent? 

 

We don't mind waiting an extra month if the endgame is in sight Luke. We've waited this long, a couple of months more won't really hurt that much. Not as much as it will hurt you if it ever goes through. 

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Wandy

Wandy

Posted
Posted
1 hour ago, TRon said:

Luke seems rattled. Why is he even considering whether the owners and directors test will happen before the start of next season when he has always insisted there's no takeover imminent? 

 

We don't mind waiting an extra month if the endgame is in sight Luke. We've waited this long, a couple of months more won't really hurt that much. Not as much as it will hurt you if it ever goes through. 

 

Yep, he is showing his true colours now. I will admit, his tweets have left me feeling demoralised in the past but now I just ignore them, safe in the knowledge that he is nothing more than a WUM. He's the professional equivalent of Burnsie.

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