The news comes two months after Sportsmail stated Mike Ashley would take legal action with sources close to the current owner insisting he has a strong case against the League.
Ashley, who has owned Newcastle since 2007, has been trying to sell the club for years.
The supporters' club says it then received a response from the Premier League's lawyers, Bird and Bird, confirming there was already a legal dispute from the club.
Following that Mike Ashley statement, The Athletic have now reported that their information is that in actual fact, the Saudi PIF 'remain as determined as ever to buy Newcastle, despite having officially withdrawn the bid in July'.
A £300million deal was being negotiated with a Saudi Arabia-backed consortium in June before they pulled out over fears they would not pass a fit and proper persons test.
The Premier League is not commenting on the story, per theBBC. Well one thing for sure, at least today has been a lot more interesting and uplifting than the Steve Bruce style football we are watching this season.
"The club has not previously commented on the arbitration it is entering into against the English Premier League ('EPL') in relation to its conduct in relation to the proposed acquisition due to the confidentiality clause in the EPL Rules".
The club said in a public statement that it was aware of public reports which allegedly state "that the EPL referred to legal proceedings with the club".
"The club understands that these will be matters of great concern to its fans and therefore considers that, in light of the information disclosed by the EPL, it has no choice but to respond and update its fans in response to this coverage", a Newcastle statement said. So, it appears that the EPL has leaked the contents of their letter to some people who have commented in the public domain.
Newcastle Consortium Supporters Ltd told the Shields Gazette: "Bird & Bird [attorneys for the Premier League] has confirmed that the club is now in a legal dispute with the EPL regarding the proposed acquisition, which may lead to a duplication of the issues raised by the fans consortium".
'It is unclear when those proceedings will be resolved, given the approach of the EPL and its lawyers, Bird & Bird.