Connect with us

Featured

Newcastle United: Saudi-led group calls off takeover of Premier League club | UK News

Published

on

The proposed takeover of Newcastle United by a Saudi-backed investment fund has been called off.

The group said in a statement: “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.

“We do so with regret, as we were excited and fully committed to invest in the great city of Newcastle and believe we could have returned the club to the position of its history, tradition and fans’ merit.

“Ultimately, during the unforeseeably prolonged process, the commercial agreement between the Investment Group and the club’s owners expired and our investment thesis could not be sustained, particularly with no clarity as to the circumstances under which the next season will start and the new norms that will arise for matches, training and other activities.”

Advertisement Find your dream job

Trending