January 18, 2022

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Premier League chairman on the brink of resigning over Newcastle takeover

2 min read

Premier League chairman Gary Hoffman is set to resign just 18 months after taking the job amid a backlash from clubs following the controversial Saudi-backed takeover of Newcastle United.

A consortium consisting of Saudi Arabia’s Public Investment Fund, PCP Capital Partners and RB Sports & Media completed their purchase of the Magpies for £305m in October.

Sky News report Hoffman is expected to quit having come under scrutiny for the Premier League’s handling of the takeover, with an announcement potentially arriving in the coming days.

The report adds that he could change his mind if a sufficient number of top flight clubs attempted to persuade him to stay in the job, but the chances of that are slim.

The news comes with a wide-ranging review of the regulation of English football due to be published next week by former sports minister Tracey Crouch.

Therein Crouch will recommend that the Independent Regulator for English Football (IREF) is set up. The IREF will be given new powers to regulate the governance and ownership of professional football clubs.

Hoffman and the Premier League came under fire for not keeping other sides in the loop about the progress of Newcastle’s takeover.

Some club executives were aggrieved that the purchase was allowed to go through at all in light of the Saudi regime’s poor human rights record, although those complaints fell on deaf ears on the grounds of confidentiality obligations.

Hoffman currently chairs online bank Monzo, having previously worked for Barclays and chaired Visa Europe.

The 61-year-old assumed the Premier League role in June 2020 before English top-flight football’s restart following the first coronavirus lockdown.

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