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Report names which two Premier League clubs opposed Newcastle takeover

A new report names which two Premier League clubs opposed the Newcastle United takeover, which collapsed according to reports on Thursday.

After 18-long weeks, the club’s saga has finally ended, but not in the way Magpies fans would have hoped for after learning that the consortium has withdrawn its bid to buy.

The consortium, led by Saudi Arabia’s Public Investment Fund and also involving Amanda Staveley and the Reuben Brothers, had been long awaiting for a decision from the Premier League.

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BREAKING: PCP Capital partners and Reuben Brothers have withdrawn from the process to buy Newcastle United.

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However, after the league organisation has failed to provide any guidance, they have decided to pull the plug on the deal, a huge blow to the club.

According to reports from The Times, Amanda Staveley was left in tears as she confirmed of the decision to withdraw the £300million offer to Mike Ashley.

She has blamed the Premier League for not approving the takeover. Staveley has confirmed that they did everything to get the deal secured and answered all the questions put forward by the Premier League.

The businesswoman has also stated that other Premier League clubs didn’t want the deal to go through, Liverpool and Tottenham were among those clubs that opposed the takeover, however there were others, though they weren’t named.

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.

“To that end, we feel a responsibility to the fans to explain the lack of alternatives from an investment perspective.

“As an autonomous and purely commercial investor, our focus was on building long-term value for the club, its fans and the community as we remained committed to collaboration, practicality and proactivity through a difficult period of global uncertainty and significant challenges for the fans and the club.

“Ultimately, during the unforeseeably prolonged process, the commercial agreement between the Investment Group and the club’s owners expired and our investment thesis could not be sustained, particularly with no clarity as to the circumstances under which the next season will start and the new norms that will arise for matches, training and other activities.”

Newcastle United fans will be left angry, having being excited with how much the planned takeover might have benefited the club, leading to significant investment for the 2020/21 season going forward – much needed especially after finishing 13th in the recently concluded Premier League season.

The statement from the Investment Group added: “As often occurs with proposed investments in uncertain periods, time itself became an enemy of the transaction, particularly during this difficult phase marked by the many real challenges facing us all from Covid-19.

“We feel great compassion for the Newcastle United fans, with whom we shared a great commitment to help Newcastle United harness its tremendous potential and build upon its impressive and historic legacy while working closely with the local community.

“We would like to say that we truly appreciated your incredible expressions of support and your patience throughout this process. We are sorry it is not to be.

“We wish the team and everyone associated with it much good luck and success.”

The end of the takeover bid leaves the North East club still under the controlled of the much disliked businessman Mike Ashley, who has long faced protests and opposition from the fans.

The bid had been criticised by human rights campaigners and Peter Frankental, Amnesty International UK’s Economics Affairs Programme Director, said: “This deal was always a blatant attempt by the government of Saudi Arabia to try to sportswash its abysmal human rights record by buying into the passion, prestige and pride of Tyneside football.

“The fact that this sportswashing bid has failed will be seen by human rights defenders in Saudi Arabia as a sign that their suffering has not been entirely overlooked.”

Newcastle fans have expressed their frustration at the length of the Premier League’s study of the bid and press criticism of the takeover.

The NUFC Supporters Trust said: “The supporters of Newcastle United have been treated with contempt by large parts of the football media and the Premier League during this failed takeover process.

“It’s been made clear that we are the least important people in a decision which affects us the most. We need answers.”

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