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Newcastle United say it is “considering all relevant options” after stating that the Premier League did not act “appropriately” in its handling of a failed acquisition by a Saudi-backed consortium.
The league wanted to clarify the links between PIF and the Saudi state.
But on Wednesday, Newcastle said the Premier League had rejected the offer.
“[Owner] Mike Ashley understands the frustrations of the fans, “the club said, adding that the rejection was based on testing from Premier League owners and managers.
However, the Premier League said in August that the offer had failed after the consortium declined your arbitration offer to determine who would own the club.
The consortium, which also included PCP Capital Partners and Reuben Brothers, had reached a £ 300 million deal to buy the club from Ashley in April.
In a statement, Newcastle added: “The club and its owners do not accept that Premier League Chief Executive Richard Masters and the Premier League have acted appropriately on this matter and will consider all relevant options available to them.”
“This conclusion was reached despite the club providing the Premier League with overwhelming evidence and legal opinions that the PIF is independent and autonomous from the government of Saudi Arabia.”
The Premier League declined to comment.
Speaking to BBC Sport earlier on Wednesday, Masters said he had “sympathy” for Magpies fans due to the lack of information they received.
“I think there is a reasonable expectation of confidentiality from all parties involved, I think that’s what we were trying to respect,” Masters said.
Masters also said that the Premier League “will analyze again” the “problems and details” of the test of its owners and directors.
The offer was led by British financier Amanda Staveley, but PIF would have taken an 80% stake.
The chairman of PIF is Crown Prince Mohammed bin Salman, and it appeared that Premier League lawyers had been struggling to establish the precise links between the consortium and the Saudi government.
The Premier League rules meant that he wanted to know who would have control, where the funds would come from, and who would appoint the board.
Masters said that because the consortium terminated its bid before the issue was resolved, “there was never a time” where the Premier League board was asked to “make an assessment of the suitability of all members of the consortium”.
Human rights groups and the fiancee of murdered journalist Jamal Khashoggi, Hatice Cengiz, had opposed the inauguration.
