Saudi Arabia's sovereign wealth fund was reported to have made a £300 mil bid to buy United. FMTNews Saudi
LONDON: A Saudi Arabian-backed consortium has ended its interest in taking over English Premier League side Newcastle United, Sky Sports reported on Thursday.
“With a deep appreciation for the Newcastle community and the significance of its football club, we have come to the decision to withdraw our interest in acquiring Newcastle United Football Club,” the group said in a statement to Sky Sports. However, the league’s CEO Richard Masters suggested last month that the proposed takeover had become complicated.
The investor group added that the situation had been complicated by a lack of clarity on the circumstances under which the next season would start and new norms that would arise for matches, training and other activities.
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