Newcastle United say they are “considering all relevant options” after claiming the Premier League did not act “appropriately” in its handling of a failed takeover by a Saudi Arabian-backed consortium.
In July the group, which included Saudi Arabia’s sovereign wealth fund PIF, said it had backed out of the deal.
The league wanted clarification of the links between PIF and the Saudi state.
“[Owner] Mike Ashley understands fans’ frustrations,” the club said.
The group, which also included PCP Capital Partners and Reuben Brothers, had agreed a £300m deal to buy the club from Mike Ashley in April.
In a statement, Newcastle added:
“The club and its owners do not accept that Premier League chief executive Richard Masters and the Premier League have acted appropriately in relation to this matter and will be considering all relevant options available to them.
“This conclusion has been reached despite the club providing the Premier League with overwhelming evidence and legal opinions that PIF is independent and autonomous of the Saudi Arabian government.”
Speaking to BBC Sport earlier on Wednesday, Masters said he had “sympathy” for Magpies fans because of the lack of information they received.
“I think there is a reasonable expectation on all the parties involved for confidentiality, I think that’s what we were trying to respect,” said Masters.