A Saudi-backed consortium on Thursday announced it had ended its bid to buy Newcastle United after months of waiting for approval from the Premier League. The PIF, chaired by Prince Mohammad bin Salman, had been set to take an 80 percent stake under the proposed deal, which was criticised by human rights groups. "Unfortunately, the prolonged process under the current circumstances coupled with global uncertainty has rendered the potential investment no longer commercially viable." Newcastle finished 13th in the recently completed Premier League season to secure another year of lucrative television rights. "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.

Source: News 24 July 30, 2020 15:08 UTC