By Canadian Press

Saudis’ Newcastle bid ends after piracy, human rights issues

Jul 30, 2020 | 9:14 AM

Saudi Arabia’s sovereign wealth fund withdrew its bid to buy English Premier League club Newcastle on Thursday after the process was stalled by concerns about piracy by the kingdom and human rights complaints.

The league has spent four months considering whether to approve the 300 million pound ($392 million) takeover that would have seen Saudi Arabia’s Public Investment Fund gain an 80% take in the northeast club.

The British-based Reuben brothers and financier Amanda Staveley were planning to each buy the remaining 10% stakes to end the ownership of retail entrepreneur Mike Ashley.

___

More AP soccer: https://apnews.com/Soccer and https://twitter.com/AP_Sports

International Spotlight

P.A.'s Howe one of 4 Sask. born players named to Canada's World Junior roster

5h ago

National

Ottawa to remove 30% investment cap for Canadian pension funds

8h ago

Budget woes

Golf and curling centre faces grim season without financial boost

12h ago

Rob Harris, The Associated Press