The Saudi-led consortium attempting to buy Newcastle United withdrew their interest today.
First, there was intrigue. Then, there was genuine excitement. Nervousness followed that and now, disappointment. The latest attempted ownership takeover of Newcastle United started months ago with massive players and managers linked to the Magpies and as of today, it is officially off.
The proposed new ownership group that included Saudi Arabia’s PIF, Amanda Staveley, the Reuben brothers, and others officially withdrew their intent to buy the club from Mike Ashley.
In their statement, that Sky Sports reported, there were mentions of the love for the Newcastle community, the unexpected length of the process, and the uncertainty with how the Premier League will look going into next season.
While there will be days to debate the merits and morality of the group attempting to takeover the club, today is just a day that Newcastle United supporters know too well. The excitement of becoming the big club that the city and fan base deserve has met the deflation of that hope disappearing. For months, everything was speculation. All we heard was that it was set to be completed within hours or days or there were new red flags that would end the possibility. The EPL dragged the process out and it ends in a Newcastle United supporter’s worst nightmare: the Mike Ashley reign continues.
With this deal coming so close to completion, he’s probably less invested now in this club than ever. Instead of attracting world class talent this summer, it will be another offseason of uncertainty, budget shopping, and frustration, all of which Newcastle United supporters know all too well.