Sources close to Newcastle United’s potential buyers have told the Independent that the real reason the deal fell through was due to problems between the Saudis and Qatar-based beIn Sport, rather than the economic concerns.
An official statement suggested that Newcastle’s new owners had second thoughts over the deal last week due to the financial landscape after the global health crisis.
However, the Independent claim that the delay was caused as BeIN Sports were urging the Premier League to block the deal.
Sources close to the potential takeover bid now insists that this was the real reason why Newcastle’s takeover did not go through as planned.
The news has caused a huge disappointment around St. James’ Park and there is now real uncertainty over their next step.
The Independent suggest that a takeover deal could yet be revived, but it may take months for it to go through.
Newcastle’s transfer budget and plans for the summer could be negatively impacted, as Steve Bruce is unlikely to have the funds to spend that he was once planning to use, with Mike Ashley set to be in charge.