A consortium led by the Saudi Arabia Public Investment Fund (PIF) has pulled out of their bid to buy Newcastle United.
The proposed £300 million ($390m) purchase of the Premier League club, backed by the PIF, whose chairman is Crown Prince Mohammed bin Salman, has been withdrawn largely due to the protracted nature of negotiations.
A statement initially carried by Sky Sports News on behalf of the PIF, PCP Capital Partners and Reuben Brothers confirmed: "With a deep appreciation for the Newcastle community and the significance of its football club, we have come to the decision to withdraw our interest in acquiring Newcastle United Football Club.