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Mohammad Bin Salman

Saudi Arabia-backed consortium pulls out of £300m Newcastle takeover bid

Mohammad Bin Salman Saudi Arabia reports testing

30.07.2020 - 18:13

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Saudi Arabia Public Investment Fund and partners have pulled out of their proposed £300m takeover of Newcastle United. The consortium, led by Crown Prince Mohammad Bin Salman, and involving PCP Capital Partners and Reuben Brothers, had been waiting to be given the green light to take charge of the club, but have now withdrawn completely.

A statement from the consortium read: "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. "We do so with regret, as we were excited and fully committed to invest in the great city of Newcastle and believe we could have returned the club to the position of its

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