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

[BlueStar]

[Dokko]

Seems to be a few plates spinning. One or two coming down. 

[Ben]

4 minutes ago, DurhamMag said:

 

And also a form submitted on the claim against the Premier League dated today

1402/5/7/21 St James Holdings Limited v The Football Association Premier League Limited | Competition Appeal Tribunal (catribunal.org.uk)

 

Is that just for his compo ?

[Shays Given Tim Flowers]

No he's claiming an injunction for the current O & D decision relating to NUFC to be set aside and reconsidered. 

[DurhamMag]

Just now, Ben said:

Is that just for his compo ?

Nope

 

The Claimant seeks: (1) Damages for loss of profit or, alternatively, loss of opportunity. (2) An injunction requiring the Defendant to withdraw the Director Decision and/or to reconsider the same. (3) Interest. (4) Costs. (5) Such further or other relief as the Tribunal considers appropriate

 

[nbthree3]

It was registered 2 weeks fwiw so there may've been progress since, good that it's come to light now 

[cubaricho]

7 minutes ago, BlueStar said:

That game was fucking great.

[The Prophet]

Now that's a development.

[Ben]

6 minutes ago, DurhamMag said:

Nope

 

The Claimant seeks: (1) Damages for loss of profit or, alternatively, loss of opportunity. (2) An injunction requiring the Defendant to withdraw the Director Decision and/or to reconsider the same. (3) Interest. (4) Costs. (5) Such further or other relief as the Tribunal considers appropriate

 

(6) Guillotine Masters and Hoffman 

[DurhamMag]

5 minutes ago, nbthree3 said:

It was registered 2 weeks fwiw so there may've been progress since, good that it's come to light now 

Something else that has been glossed over.... The case number!!!

NOTICE OF A CLAIM UNDER SECTION 47A OF THE COMPETITION ACT 1998 Case No: 1402/5/7/21

Looks like a date of 5th July to me!!

[Candi_Hills]

From Simon Zekaria (whoever he is) on twitter:

The claim states that the failure of the takeover by a consortium of investors, including Saudi Arabia's sovereign wealth fund, affected the ability of

@NUFC to compete in the Premier League

 

So Mike is bringing legal action against them because the (illegally) blocked takeover affected the club's ability to complete. That sounds like the compensation claim that so many people said he'd never be able to make. Am I misunderstanding anything?

[Kanji]

Seems like MA is going absolutely all-in on this. If the league don't settle and they lose this, this is going to cost them SO fucking much - and they'll need help from the "member clubs" to pay MA, an outgoing owner. 

[St1pe]

I’m guessing arbitration hasn’t been fruitful if they’re pushing ahead with a court case?

[Kanji]

Believe this is a double-down. 

[Rocker]

2 minutes ago, Candi_Hills said:

From Simon Zekaria (whoever he is) on twitter:

The claim states that the failure of the takeover by a consortium of investors, including Saudi Arabia's sovereign wealth fund, affected the ability of

@NUFC to compete in the Premier League

 

So Mike is bringing legal action against them because the (illegally) blocked takeover affected the club's ability to complete. That sounds like the compensation claim that so many people said he'd never be able to make. Am I misunderstanding anything?

The Claimant seeks:
(1) Damages for loss of profit or, alternatively, loss of opportunity.
(2) An injunction requiring the Defendant to withdraw the Director Decision and/or to reconsider the 
same.
(3) Interest.
(4) Costs.
(5) Such further or other relief as the Tribunal considers appropriate.

[Robster]

In short, is this a positive or negative development ?

[Big Geordie]

Interesting.......

[Alberto2005]

Just now, Robster said:

In short, is this a positive or negative development ?

Depends which thread you're reading.

[Big Geordie]

Just now, Robster said:

In short, is this a positive or negative development ?

He's gunning for the PL, it would seem. Big time.

[Ben]

Definitely DP this ( I didn't think I'd be typing that on the Internet this early in the evening) 

[nbthree3]

 

[B-more Mag]

At the risk of negative-pessamism-ing, I worry that this is an uphill battle:

Quote

The Claim states that the Defendant exercised its power to block the Proposed Takeover when it decided between June and September 2020 that the Kingdom of Saudi Arabia would be a director exercising “control” over NUFC, for the purposes of the Rules (“the Director Decision”). In reaching the Director Decision, the Defendant failed to apply the Rules in a fair, objective and non-discriminatory fashion and/or used its powers under the Rules for the improper purpose of promoting its own commercial interests and/or the interests of its business associates and/or certain of the PL member-clubs in a manner that was detrimental to competition and consumers.

I mean, maybe they do really have some evidence that the decision was pretextual, but there's pretty clearly a prima facie case that KSA would be a director applying the literal language of the rules.

[B-more Mag]

1 minute ago, Robster said:

In short, is this a positive or negative development ?

Yes, it is.

[Colos Short and Curlies]

1 minute ago, Robster said:

In short, is this a positive or negative development ?

Positive? 

We've won the arbitration case and now he's got the avenue to sue would be my guess

[B-more Mag]

 

1 minute ago, nbthree3 said:

 

"Because we didn't actually have standing ..." but, fine, take the win.