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Newcastle United confirm Premier League rejected Saudi Arabia’s Sh42 billion takeover

FILE PHOTO: Soccer Football - Premier League - Coronavirus impact on the Premier League - St James' Park, Newcastle, Britain - March 14, 2020. General view outside St James' Park. [REUTERS/Scott Heppell]

Newcastle United confirmed on Wednesday the Premier League rejected a takeover bid from a consortium backed by Saudi Arabia's Public Investment Fund (PIF).

PIF, PCP Capital Partners and Reuben Brothers pulled out of their proposed Sh42 billion (£300m) takeover of Newcastle in July.

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