Saudi-backed bid for Newcastle United withdrawn - reports

Reuters

A takeover bid for Newcastle United by a consortium backed by the Saudi sovereign wealth fund has been withdrawn after weeks of waiting for the Premier League's approval, according to a media report on Thursday.

In a joint statement reported by Sky Sports, the Saudi Public Investment Fund (PIF), PCP Capital Partners and RB Sports & Media said: "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."