The proposed £300m Newcastle takeover deal was 80% financed by Saudi Arabia's Public Investment FundA Saudi Arabian-backed consortium has ended its bid to buy Newcastle United. In June, Premier League chief executive Richard Masters said he would "fully consider" calls for the proposed bid to be blocked. Newcastle MP Chi Onwurah tweeted: "I know that many constituents will be disappointed and frustrated by the withdrawal of the latest Newcastle takeover offer. One of the issues raised by critics of the takeover was Saudi Arabia's response to cases of unauthorised broadcasting of Premier League games in the country. Saudi Arabia has always denied aiding the beoutQ operation and has insisted there is no link between its government and the alleged piracy.

Source: BBC July 30, 2020 14:40 UTC