PCP Capital Partners owner Amanda Staveley has finally reacted to the proposed European Super League that has since collapsed.
Arsenal, Chelsea, Liverpool, Manchester City, Manchester United and Tottenham Hotspur initially joined the breakaway league.
AC Milan, Atletico Madrid, Barcelona, Inter Milan, Juventus and Real Madrid were also involved before a massive fan backlash forced most clubs to backtrack.
The move would have proven catastrophic for the likes of Newcastle United, and Staveley is happy that the plans fell through.
The financier told Bloomberg TOPLive Blog yesterday that the adoption of the European Super League would have collapsed valuations of Premier League clubs and damaged the entire game both financially and “reputationally”.
Staveley led Saudi Arabia’s £300 million takeover bid for Newcastle last year before things fell apart.
The Reuben Brothers and Saudi’s Public Investment Fund walked away from the deal after the Premier League’s prolonged regulatory process frustrated them.
They are said to remain keen on buying the St James’ Park club, and Magpies owner Mike Ashley is waiting for an arbitration hearing against the Premier League in a bid to have the takeover approved.
However, she insisted that Middle Eastern investors fully understand that football has an impact on wider society, and they appreciate it.
She believes PIF are long-term investors with the ability to manage financial shortcomings caused by the coronavirus pandemic.
In other news, Newcastle are reportedly keen on Ligue 1 attacker.