Newcastle United reveal that Premier League rejected Saudi-Arabia backed takeover bid

However, that has now changed as in an incredible statement, Newcastle United have confirmed that the Premier League rejected Amanda Staveley's Saudi-backed takeover of the club. Their statement confirmed that the club believe neither the Premier League nor it’s chief executive Richard Masters “acted appropriately in relation to this matter”. The Magpies also asserted that current owner Mike Ashley is still “fully supportive” of the club and manager Steve Bruce with him still looking to sell the club.

“Newcastle United can confirm that the Premier League has rejected a takeover bid made by PCP Capital Partners, the Reuben Brothers and the Public Investment Fund of Saudi Arabia (PIF) based on its Owners and Directors test. This conclusion has been reached despite the club providing the Premier League with overwhelming evidence and legal opinions that PIF is independent and autonomous of the Saudi Arabian government,” reads the statement on Newcastle’s official website.

"Mike Ashley understands fans’ frustrations and would like to reassure them that he has been fully committed to ensuring this takeover process reached completion as he felt it was in the best interests of the club. Mike continues to be fully supportive to Steve Bruce, the players and all the staff and wishes them well for the upcoming season.”