Newcastle have released a statement following the failed £300million takeover of the club. News emerged yesterday that a Saudi-based consortium had pulled out of the deal after months of trying to get the Premier League to approve the deal.
Speaking on the back of a day of statements from the bidding group, managing director Lee Charnley said: “We acknowledge yesterday’s statement.
“Never say never, but to be clear Mike Ashley is 100% committed to this deal (sale).
“However our current focus must now be on supporting Steve Bruce in the transfer market and on the preparations for the new season.”
The Saudi-led consortium attempting to buy Newcastle announced yesterday they had withdrawn their bid to buy the club.
Back in April, Newcastle owner Mike Ashley first agreed to sell to Saudi Arabia’s Public Investment Fund, PCP Capital Partners and Reuben Brothers for £300million.
A statement 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 history, tradition and fans’ merit.
“Unfortunately, the prolonged process under the current circumstances coupled with global uncertainty has rendered the potential investment no longer commercially viable.”
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PIF’s withdrawal from the process will come as a boost to the Premier League, who have been struggling to make a decision on the deal.
It also paves the way for American entrepreneur Henry Mauriss to make his move on the club.
The businessman, who is CEO of Clear TV Media, is understood to have the funds in place and has none of the problems which has stalled the deal with PIF.
Earlier this month, Steve Bruce wanted a decision to be made on the Newcastle takeover as quickly as possible.
“For everybody, we need a bit of clarity,” Bruce said after the FA Cup quarter-final defeat by Manchester City.
“If I’m led to believe it’s the Premier League that is holding these negotiations, then they have got to come and make a decision sooner or later because it’s not healthy for anybody.”
Newcastle finished the Premier League campaign in 13th but it is unsure how active they will now be in the transfer window.