The business group backed out on a transaction that was already taking place as fact.
The purchase of Newcastle by a consortium linked to Saudi Arabia It looked like a done thing, but ultimately it won’t happen. The Investment Fund Public PCP Capital Partners and Reuben Brothers they have withdrawn from the process to acquire the English painting.
This was announced by Sky Sports, which showed a part of the statement from the business group. “With a deep appreciation for the Newcastle community and the importance of their club in English football, we have made the decision to withdraw our interest in acquiring Newcastle United Football Club.”
They also add: “We appreciate your incredible expressions of support and your patience throughout this process. We regret that it has not come to fruition. “Unfortunately, the lengthy process under current circumstances coupled with global uncertainty has made the potential investment no longer commercially viable.”
There was talk of an investment of 350 million euros to take over 80% of the club and many names were even put on the table in what could be a pharaonic project (Sarri, Benítez, Edinson Cavani, Arturo Vidal, Coutinho, Koulibaly, among others).
Bad news for the fans who already saw their team in a new stage in which money is the starting point.
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