The Saudi-led consortium attempting to buy Newcastle have announced they have withdrawn their bid to buy the club. Back in April, Newcastle owner Mike Ashley first agreed to sell to Saudi Arabia's Public Investment Fund, PCP Capital Partners and Reuben Brothers for £300million. But after growing opposition, a row over piracy and uncertainty from the Premier League, the deal is now off. A statement read: "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 takeover of Newcastle is OFF"To that end, we feel a responsibility to the fans to explain the lack of alternatives from an investment perspective.

Source: Express July 30, 2020 14:48 UTC