Saudi Arabian Consortium Withdraw Bid To Buy Newcastle United

Saudi Arabian Consortium Withdraw Bid To Buy Newcastle United

A SAUDI Arabian-backed consortium's £300million bid to buy Newcastle United is off, with the buyers blaming Premier League dithering and hostility from rival clubs for the decision they claim will be "catastrophic" for fans.

Newcastle finished the Premier League campaign in 13th but it is unsure how active they will now be in the transfer window.

The end of the Saudi bid left the North East club still in the hands of British businessman Mike Ashley.

"This is a victory for human rights and decency and clear defeat for Mohamed Bin Salman and his efforts to sportswash his human rights record", said Cengiz in a statement.

On Thursday, a consortium led by the Saudi Arabia Public Investment Fund (PIF) pulled out of a bid to buy the club.

The proposed £300m takeover had been registered with the Premier League 16 weeks ago.

However, Newcastle managing director Lee Charnley seemed to suggest the deal could be resurrected.

Judge delays deposition release of Ghislaine Maxwell, longtime Jeffrey Epstein confidante
Maxwell has pleaded not guilty to the charges and is being held without bond while she awaits a trial next year. Excerpts from Maxwell's deposition were made public last August.

The consortium had been waiting to be given the green light take charge of the club, but withdrew completely, citing the tough economic times during the Covid-19 pandemic. "This risk associated with the latter in an unsteady market looks unlikely hence with no Saudi acquisition it looks hard", he added.

Newcastle United players warm up before their English Premier League match against Liverpool at St James' Park.

There has been opposition to the deal from human rights campaigners concerned about Saudi Arabia's welfare practices, while matters were complicated further when the World Trade Organization published a report that found representatives of the Kingdom had facilitated the breach of piracy laws through broadcasting network beoutQ.

"The Premier League made it so hard". "The problem with the deal was the intransigence of the Premier League".

"Rather than positively complying with global law, since June Saudi Arabia has lied to governments and rights-holders across world sport about the WTO ruling; it has said the Premier League, FIFA and UEFA sent their legal case to the wrong Saudi email address nine times; it has permanently banned the Premier League's broadcast partner meaning the only way to watch premium sport is via piracy; and now it is appealing a WTO decision that they said they won".

Shearer told BBC Radio 5 Live on Friday morning: "There's a lot of anger, understandably so, and a massive amount of disappointment". "We can only hope and pray that new owners come in at some stage and take the club back to where it belongs because that's what the fans of Newcastle deserve".

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