Investors blame prolonged approval process and global uncertainty over coronavirus pandemic
A Saudi-backed consortium on Thursday announced it had ended its bid to buy Newcastle United after months of waiting for approval from the Premier League.
“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,” the group said in a statement. However, there is deep uncertainty over the financial fallout from the coronavirus pandemic, with no date set for fans to return to stadiums.
“The fact that this sportswashing bid has failed will be seen by human rights defenders in Saudi Arabia as a sign that their suffering has not been entirely overlooked,” Amnesty UK said in a statement.
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