Premier League: New rules set for ownership and directorship; check out the details here
Premier League: A trend of change of ownership is sweeping through England's top national league. Meanwhile, to maintain its reputation, the organisers have set new rules for ownership and directorship.
FollowThe English Premier League (EPL) has witnessed a potential change in ownership of a few of the reputed clubs. While Chelsea underwent the same last year, with Todd Boehly of the United States of America (USA) taking over from Roman Abramovich of Russia, Manchester United is already undergoing a sale process, with bidders already placing their bids twice so far.
However, the EPL is staying calm by this and has decided to maintain its reputation by establishing new ownership and directorship rules. Per a FotMob report, the EPL would disqualify owners and directors who violate human rights abuses. At the same time, there would be increased clarity and transparency about the delegations and potential owners concerning potential new takeovers. There would also be annual checks to ensure the owners comply with the rules.
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The owners' and directors' test (OADT) have been subject to scrutiny, especially regarding the vast influx of money into the EPL clubs from the USA and the Middle East. After a thorough review, the EPL has mentioned that the clubs are willing to have the rules implemented immediately, with all potential ownership decisions to be reviewed by an independent panel.
Per the new ownership rules, the minimum stake to purchase the club would be reduced to 25% from 30%. Also, according to Global Human Rights Sanctions Regulations 2020 of the United Kingdom (UK), any government sanctions on a person or company would lead to a disqualifying event, as was the case with Abramovic, due to Russia's unprovoked invasion of Ukraine.
Besides, the laws add that those accused of violence, corruption, fraud, tax evasion and hate crimes would also be disqualified. A person undergoing investigation for a potential disqualifying event might also be barred from becoming the club director. It was also decided that the EPL would disclose the person being disqualified and maintain transparency in the annual 'report of compliance'.
Impact on United's takeover
The new laws arrive amid United going through a takeover process, with Sheikh Jassim bin Hamad bin Al Thani of Qatar being one of the leading front-runners about the ownership. While the Middle East has always been a subject to human rights violations, Al Thani's bid would reportedly not be rejected, given that he is bidding as a person and not an entity.
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