Newcastle fans demand answers after Saudi bid collapses | Chronicleplanet.com

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Newcastle fans demand answers after Saudi bid collapses

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Newcastle United fans say they have been treated with contempt after a 300 million-pound ($392 million) takeover bid from a Saudi-backed consortium collapsed on Thursday.

The group, which included Saudi Arabia’s sovereign wealth fund PIF, PCP Capital Partners and Reuben Brothers, announced they were ending their interest in the deal which had been delayed by the Premier League’s owners and directors test.

The end of the Saudi bid left the North East club still in the hands of British businessman Mike Ashley, who has long faced protests and opposition from the fans.

Many Newcastle fans had welcomed the takeover, seeing it as a chance to boost the club’s fortunes through investment in new players.

But the bid had been criticised by human rights campaigners and had come up against questions about pirate broadcasts of Premier League games in Saudi Arabia.