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EPL: $550 million Newcastle takeover in tatters as Saudis pull out – NEWS.com.au
EPL: $550 million Newcastle takeover in tatters as Saudis pull out
Saudi Arabias Public Investment Fund, PCP Capital Partners and Reuben Brothers have withdrawn from the process to buy Newcastle, Sky Sports has exclusively revealed.Papers regarding the proposed takeover were lodged with the Premier League in April and were still being scrutinised.
Saudi Arabia’s public investment fund (PIF) had been set to take an 80 per cent stake in the Premier League club under the terms of the deal, which was understood to be worth $550 million.
But the Investment Group h…
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