Newcastle United have confirmed the Premier League rejected a takeover bid from a consortium backed by Saudi Arabia's Public Investment Fund (PIF).
The club, owned by Mike Ashley, an unpopular figure with most Magpies supporters, suggested on Wednesday the league and its chief executive Richard Masters had not "acted appropriately in relation to this matter".
A group of investors made up of the PIF, Amanda Staveley's PCP Capital Partners and the Reuben Brothers had agreed a reported £300million deal with Ashley this year.
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However, the consortium withdrew its bid in July complaining of "the prolonged process" following discussions with the Premier League.