Newcastle United

Premier League clubs vent anger over Newcastle United takeover

Max Cooper
Newcastle's new ownership is causing controversy
Newcastle's new ownership is causing controversy / OLI SCARFF/GettyImages

Premier League clubs have been left furious over Newcastle United's recent takeover, and all 19 teams held an emergency meeting with chief executive Richard Masters and chairman Gary Hoffman to air their grievances.

Former Magpies owner Mike Ashley sold the club to the Saudi Arabia-backed Public Investment Fund on Thursday, transforming the Premier League strugglers into one of the most financially powerful clubs in the world.

The new owners / OLI SCARFF/GettyImages

The takeover had been put on hold for months with questions marks over which of the Saudi partners would become directors at the club.

And although the deal was finally allowed to progress by the Premier League, the rest of the top flight clubs have been left enraged by this decision. The Daily Mail reports that a meeting was held between the 19 clubs and the Premier League, where all concerns were shared.

The Premier League explained to the 19 clubs that they had to accept the proposed takeover once they were given legal assurances of a divide between the Saudi state and the Public Investment Fund.

Manchester United, Tottenham Hotspur and Everton were the most vocal of the clubs against the takeover, while others believed that the trio's frustration stemmed from the prospect of facing another competitor for a European spot, rather than ethical issues.

Clubs were also worried by the prospect of Newcastle landing a lucrative shirt sponsor deal, which would allow them to boost revenues and stretch their Financial Fair Play restrictions.

Newcastle were not invited to the meeting, allowing clubs to air their thoughts in an open environment.

"This is mainly an issue for the bigger clubs, although there are concerns over the immediate impact on the relegation battle," explained an executive from one Premier League club.

"They are nervous that precious Champions League places have suddenly got harder to come by. A lot of the smaller clubs are pretty relaxed about it."