Newcastle’s Saudi Arabia-Backed Takeover Collapses After Consortium Withdraws Bid
The proposed takeover of Premier League club Newcastle United by a Saudi Arabian-backed consortium has collapsed after the group announced they were ending their interest in the deal.
The group, which included Saudi Arabia's sovereign wealth fund PIF, PCP Capital Partners and Reuben Brothers, was reported to have made a $391 million bid to buy United from British businessman Mike Ashley.