American businessman Henry Mauriss has underlined a commitment to buy Newcastle after the Saudi-backed bid failed. California-based media mogul Mauriss has been waiting in the wings with a rival offer while the Premier League deliberated on the £300million plan by financial ‘fixer’ Amanda Staveley and her PCP Capital Partners group.
Staveley, with the backing of the Saudi Arabian Public Investment Fund and property developers Simon and David Reuben, hoped to secure the Premier League’s approval.
But in a crushing blow to hopeful Geordie fans, Staveley’s Saudi backers pulled the plug on the venture, which was beset by increasing problems and seen as too risky for the Premier League to sanction.
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