March 10, (THEWILL) – English Premier League clubs have agreed to adopt stricter measures for their Owners’ and Directors’ Test, which will prevent anyone found guilty of human rights abuses from owning a club.
The English top-flight club shareholders met on Thursday, to discuss the amendments to the test, which will introduce new “disqualifying events”. The regulations, which will be enforced immediately, will include a broader range of criminal offences such as violence, fraud, corruption, tax evasion, and hate crimes.
Those under investigation for “disqualifying events” will be unable to become a director, and annual due diligence will review current owners and directors to ensure compliance with the rules. The list of disqualifying events has also been extended to include people subject to government sanctions based on the Global Human Rights Sanctions Regulations.
The regulatory authorities that cause a suspension leading to disqualification will be expanded to include the Charity Commission, Financial Conduct Authority, Prudential Regulation Authority, and HMRC. These new measures come after heightened scrutiny of the owners’ and directors’ test following the takeover of Newcastle by Saudi Arabia’s Public Investment Fund (PIF), despite the country’s poor human rights record.
However, the updated rules would not have affected Saudi’s crown prince, Mohammed bin Salman, the Chairman of the PIF, or any other PIF members. Critics argue that the new rules will make little difference unless prospective buyers’ involvement in human rights abuses is assessed thoroughly.
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
