Saudi Arabia's Public Investment Fund (PIF) were offered a 30 per cent stake in a Premier League club - believed to be Manchester United - for £700million before they bought Newcastle United.
Yasir Al-Rumayyan, the governor of PIF, said they looked at clubs in Italy, France and the United Kingdom before their £305m takeover at Newcastle, which was completed in October last year.
Al-Rumayyan said PIF were approached 'on the basis that we take 30 per cent of the ownership, and we don't interfere at all in terms of managing the club, for £700m.