Newcastle United’s Saudi Arabian owners, the Public Investment Fund, have reportedly dropped their interest in pursuing a takeover of Manchester United.
The Red Devils were placed on the market by the Glazer family last month after the Americans announced they would be seeking ‘strategic alternatives’.
United have been linked with potential Saudi investment for several years, especially given their supporters’ dismay for the current owners. ‘Anti-Glazer’ protests and displays have been the norm at Old Trafford for over 10 years and fans are already excited at the prospect of new investment into the club.
Saudi owners will prioritise Newcastle growth
However, PIF look set to turn their attention away from the Manchester side and focus solely on the Magpies, who are already showing the impact of their financial backing; they are currently third in the Premier League and above the likes of Tottenham Hotspur, United, Liverpool and Chelsea.
According to CBS Sports, PIF see great potential in Newcastle and will continue to build their project at St James’ Park.
There is no possibility PIF will ditch Newcastle to try and buy #MUFC. Saudi Sports Minister Prince Abdulaziz bin Turki Al-Faisal has said any KSA interest would come from the private sector. Should it materialise it will then be ‘supported’ by government entities.
— Ben Jacobs (@JacobsBen) December 6, 2022
The owners paid £305 million to take over the side last October.