There is finally an update on Mike Ashley’s CAT hearing as the Newcastle United owner looks to resurrect last year’s failed takeover.
PCP Capital Partners agreed a deal to buy the club last year, but weren’t given approval by the Premier League.
The league refused to say yes or no, leaving the club in a state of limbo that saw PIF eventually withdraw their interest in July 2020.
One year on and the saga continues.
Since then, Mike Ashley has launched two legal battles against the Premier League.
The Sports Direct tycoon is desperate to sell the club, and wants to sell it to Amanda Staveley’s consortium.
The first legal case is arbitration, which will look at whether PIF are separate from the Saudi state. This was the issue that stopped the Premier League approving the sale.
However, arbitration now won’t take place until 2022. This was announced last week due to ‘issues with disclosure of evidence’.
Ashley’s other legal battle is the anti-competition case. This will examine how the Premier League acted during the saga.
After the Premier League received two extensions to gather evidence, a date for jurisdiction has now been set.
No Newcastle takeover this summer with CAT hearing set for September
On this date, the Premier League will provide evidence on why the case shouldn’t go any further.
Regardless, a takeover won’t be happening this summer. But that shouldn’t be news to supporters.
Arbitration seemed like the only route to a quick solution, and that has now been delayed until next year.
September’s hearing isn’t even the actual CAT case – it is merely to determine whether or not the case will go any further or be thrown out.
When legal action was taken, the Athletic reported that an anti-competition case could take between six and 18 months.
A resolution is nowhere near, and Ashley must now put his hand in his pocket and back Steve Bruce with the resources he needs to keep Newcastle United in the Premier League.
Ashley will now be praying that the buyers remain interested when his legal battles reach a conclusion. However, that remains to be seen.
For now, Ashley and Newcastle United is a toxic relationship that isn’t allowed to end.
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