I highly doubt we are but why do people insist on taking newspaper headlines at face value? We know more than enough about the media to understand they're constantly intent on whipping up hysteria by making a lurid headline out of a non-story. And naturally, the holier-than-thou Guardian is going to try to whip something relatively bureaucratic into the whole human rights angle.
I suspect there's two stories here. One will almost certainly involve the usual group of suspects - United, Arsenal, Liverpool & Spurs - who are shit-scared of this takeover. The other involves the 19 other members of the PL, which is a member-owned organisation, being annoyed that the PL didn't consult them or give them advance notice of their negotiations with the Saudis.