Mike Ashley accuses Premier League over failure of proposed Newcastle United takeover

Newcastle owner Mike Ashley is seeking legal advice over the club’s failed takeover (Kirsty O’Connor/PA)

Newcastle owner Mike Ashley is taking legal advice after accusing the Premier League of not acting “appropriately” in formally rejecting Amanda Staveley’s takeover bid.

More than a month after Staveley’s PCP Capital Partners, who were backed by Saudi Arabia’s Public Investment Fund and the Reuben Brothers, withdrew their £340million offer for the club, with the governing body still conducting its owners’ and directors’ test, the Magpies have revealed that a decision has now been made.