Newcastle United’s takeover ‘wouldn’t have been stopped’ by a regulator
The Newcastle United takeover had the ‘blessing’ of the former UK government. That is according to Leeds United CEO Angus Kinnear, who was a top-flight executive when the buy-out was finally completed nearly three years ago. The Tory government at the time, led by ex-Prime Minister Boris Johnson, always denied having a role in the deal or attempting to influence it, but papers previously released by the Foreign Office revealed that a possible failure of the takeover would have posed a ‘immediate risk’ to UK-Saudi relations and a ‘senior interlocutor’ was even considered ‘to impress HMG interests with the Premier League’.
At one point, the Labour leader hinted that the ownership structures of teams like Newcastle were’something regulators need to look at’, while Sir Keir Starmer called them a ’cause of concern’. But when it came to “putting off investment into football,” Sir Keir said earlier this year—before he was become Prime Minister—that “we are not going down that road.” Instead, the season ticket holder for Arsenal pledged that accountability and openness would come from the regulatory body.
Specifically, the Football Governance Bill has a provision stating that selections of new owners and present custodians’must also have consideration to the foreign and trade policy objectives’ of the government. This seems pertinent in light of the UK’s close ties to Saudi Arabia.
Specifically, the Football Governance Bill has a provision stating that selections of new owners and present custodians’must also have consideration to the foreign and trade policy objectives’ of the government. This seems pertinent in light of the UK’s close ties to Saudi Arabia.
“Do you think a regulator would have stopped the Saudi state entering football?” Square Ball asked Kinnear. “It wouldn’t happen.
“Due to the volume of weaponry trade we conduct with Saudi Arabia, the British government approved of the Saudis’ entry into football. That’s the problem. The question isn’t if there should be a regulator in the middle of it.
“Considering how well the government manages everything else, I think it’s a bad idea to have an instrument of government trying to run one of the most successful products that England has built and exports, but I do fully acknowledge that the game needs significant reform.” Everyone is aware of the need for substantial transformation. It isn’t functioning. I simply wonder if the government is the most appropriate group to implement reforms.”
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