×
App Icon
The Standard e-Paper
Stay Informed, Even Offline
★★★★ - on Play Store
Read on the App

Why Saudi Arabia consortium pulled out of the Sh42 billion Newcastle takeover

Football - Premier League - Arsenal v Newcastle United - Emirates Stadium, London, Britain - February 16, 2020. A fan displays a banner in reference to Newcastle United owner Mike Ashley during the match. [REUTERS/Eddie Keogh]

Saudi Arabia's Public Investment Fund, PCP Capital Partners and Reuben Brothers pulled out of their proposed Sh42 billion (£300m) takeover of English Premier League side Newcastle United, according to Sky Sports news.

The consortium had been waiting to be given the green light take charge of the club, but withdrew completely, citing the tough economic times during the Covid-19 pandemic.

Get Full Access for Ksh299/Week
Fact‑first reporting that puts you at the heart of the newsroom. Subscribe for full access.
  • Unlimited access to all premium content
  • Uninterrupted ad-free browsing experience
  • Mobile-optimized reading experience
  • Weekly Newsletters
  • MPesa, Airtel Money and Cards accepted
Already a subscriber? Log in