RIYADH: 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.
"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 history, tradition and fans’ merit. The Premier League's board had been carrying out an examination of the proposed takeover as part of its"owners and directors test", which evaluates the suitability of ownership groups.However, the league's CEO Richard Masters suggested last month that the proposed takeover had become complicated.
The investor group added that the situation had been complicated by a lack of clarity on the circumstances under which the next season would start and new norms that would arise for matches, training and other activities.
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: The Straits Times - 🏆 8. / 63 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: The Straits Times - 🏆 8. / 63 Read more »