OFFICIALLY. The Prince of Saudi Arabia refused to buy Newcastle

Previously, investment Fund of Saudi Arabia headed by Prince Mohammed bin Salman was close to purchasing the club in the Premier League “Newcastle UTD”.

Today, however, the investment Fund of Saudi Arabia (PIF), PCP Capital Partners Reuben Brothers has announced that the deal will not happen:

“With deep gratitude to the community of Newcastle, we decided to abandon our interest in buying the football club “Newcastle United”.

We do this with regret, because I was excited and determined to invest in the great city of Newcastle, and I believe can return the club to its place in history.

Ultimately, during the unexpectedly prolonged process, the validity of the commercial agreement between the Investment group and the owners of the club expired.

Our investment thesis is not supported. It is also worth considering the lack of clarity regarding the circumstances in which begins next season, and the new norms that will arise in respect of matches, training sessions and other events”, – reads the statement of the investment Fund.

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