Lots asking about the Premier League O&D Test & how PIF could potentially be disqualified even if they are i) a separate legal entity to the government & ii) the directors listed have no links to piracy and pass (most) other checks. Section F of the guidelines sheds some light...

Firstly, Al Rumayyan & any listed director must also provide "relevant info." on non-disclosed persons, who could qualify as (future) directors. PL may consider Al Qasabi or even MBS as falling into this category. AR can fail for not clarifying their roles (if any) or influence.

Any listed director can also fail for providing "false, misleading or inaccurate information" and this can relate to #NUFC's business plan, the company's profile or Premier League concerns over piracy. The latter is relevant because Al Qasabi is also acting media minister.

Regardless of who is listed in the #NUFC takeover documents and business plan, the PL are right to think AQ and MBS could exert influence. After all, they are senior members of PIF. PL have clear legal scope to clarify role of non-disclosed persons and that's what they are doing.

PL will be asking the listed directors a number of questions out of due diligence in relation to both them and the wider PIF family. They will also be approaching Al Qasabi, who is a contact they have previously tried (and failed) to work with on tackling piracy.

This does not mean the #NUFC takeover is necessarily heading towards rejection. It is the PL being thorough and explains delays. However, if PL do decide not to pass the takeover then PIF or #NUFC can appeal. This costs 1k and is heard by a PL tribunal with a majority decision.

Unclear whether the PL, PIF or #NUFC would comment if a disqualification notice is issued but an appeal ongoing. We are not there yet, though, and PIF still maintain it won't come to this.