The Newcastle football club will not change owners. The consortium from Saudi Arabia, which according to the media was prepared to pay 300 million pounds (8.7 billion crowns) for the thirteenth whole of the last year of the English league, withdrew its offer.
Club owner Mike Ashley has already agreed with those interested in Saudi Arabia, but the agreement still had to be sanctioned by the Premier League management after checking the integrity of the new owners.
However, the review dragged on and the consortium’s representatives ran out of patience, according to the BBC.
The Saudi side cited the uncertainty of the world market as a reason, due to which the investment in the club would no longer pay off. Another reason was the unclear fate of the new year.
“As is often the case in such cases, the biggest enemy of trade was time. Especially in times of major problems, such as the covid-19,” the consortium said in a statement.