Saudi-backed consortium withdraws bid to buy Newcastle United

Saudi-backed consortium withdraws bid to buy Newcastle United

Rangers fans proved that it is possible to stick it to him and as Newcastle United fans we must now be stronger together, stronger UNITED!

But the bid had been criticised by human rights campaigners and had come up against questions about pirate broadcasts of Premier League games in Saudi Arabia.

It is understood the Premier League, which was conducting its owners' and directors' test on the bidders, had concerns that the Saudi Public Investment Fund was too closely linked to the kingdom's rulers.

The delay to the process came because the Premier League lawyers struggled to establish precise links between the consortium and the Saudi government.

A proposed £300 million ($390m) purchase, backed by the PIF, whose chairman is Crown Prince Mohammed bin Salman, had been withdrawn mainly due to the protracted nature of negotiations. It had been taken for them, bringing to an end the most contentious and wearisome takeover in the history of the division.

She said the consortium had had no option but to put a joint statement out.

"We're left confused about what has gone on here - it's been nearly 17 weeks of noise".

George, who is a solicitor, said the Premier League had to "shoulder some blame" for the deal falling through.

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However, league chief executive Richard Masters suggested last month that the proposed takeover had become complicated.

"I understand it was a confidential process but for it to carry on that long, they should at least tell us what the position was".

As for the future, both Tomlinson and George are hopeful, so long as the future does not involve Ashley.

"The supporters of Newcastle United have been treated with contempt by large parts of the football media and the Premier League during this failed takeover process", said the NUFC Supporters Trust.

American TV Mogul Henry Mauriss has been linked with an offer, but it remains to be seen whether a takeover will occur this summer. "I don't know, there may be a way forward, but we have had to put a statement out", added Staveley.

Retail tycoon Ashley is a deeply unpopular figure among the Newcastle support for his treatment of fans and an unwillingness to invest on the field to improve the Magpies' fortunes.

"There will still be things to talk about but everyone is going to wake up and feel a bit sad for a few days".

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