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Premier League denies blocking collapsed Saudi Arabian-backed takeover at Newcastle

The Premier League has denied blocking a collapsed Saudi Arabian-backed takeover at Newcastle, labelling the club's recent accusations "incorrect".

Magpies owner Mike Ashley had reportedly brokered a £300 million ($387m) agreement with Saudi Arabia's Public Investment Fund (PIF), Amanda Staveley's PCP Capital Partners and the Reuben Brothers back in April.

However, the consortium pulled out of the deal two months later having grown frustrated over the lack of urgency from the Premier League in approving their bid.

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Ashley criticised the top-flight and chief executive Richard Masters over the failed deal and confirmed that the club will be seeking legal advice over possible next steps during on Wednesday night.