Sky Sports’ north-east reporter Keith Downie has suggested that, as things stand, PIF have walked away from the deal to take over Newcastle United.
We saw plenty of speculation in the summer that the Magpies were going to be bought with PIF’s involvement and potentially become one of the richest clubs in world football.
It was stopped from progressing, though, drawing ire from Newcastle fans in the process and since we have just seen speculation over the deal potentially not being dead but nothing really in the way of progress or negotiation.
And, speaking to NUFC 360, Downie has offered this rather downbeat update on the state of play on Tyneside.
“As it stands – and we need to remember this – the PIF side of the consortium walked away from the deal at the end of July.
“So, it’s not as if they’re sitting there saying, ‘please come back to the table, Premier League’ – they’re not.
“Maybe behind the scenes, they are saying that, but as it stands, they have walked away from the deal.”
Newcastle fans were naturally hoping that their club was going to be set for an influx of new money and new signings but that has not come to pass.
They’ve still bought some good players but it’s a case of what might have been for now by the looks of things.