Newcastle takeover: Saudi Arabian-backed consortium pulls out of bid

www.bbc.co.uk
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A Saudi Arabian-backed consortium has pulled out of a bid to buy Newcastle United.
Documents relating to a £300m takeover had been registered with the Premier League 16 weeks ago.

However, the deal was still being scrutinised under the owners' and directors' test.

It is understood Saudi Arabia's sovereign wealth Public Investment Fund (PIF) ran out of patience waiting for approval.

PIF said that it was…
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