Mike Ashley makes a telling Newcastle United takeover decision as pressure mounts

The £300million deal, which would have seen the Saudi Arabian Public Investment Fund become the club’s majority shareholders, hit the buffers late last month after the Premier League failed to return a verdict after a prolonged period of checks as part of the owners and directors test.

All parties involved in the deal – which also included Amanda Staveley’s PCP Capital Partners and the Reuben Brothers – remain hopeful that it could be resurrected, and they appear to have secured a powerful ally in Mike Ashley.

According to Sky Sports, the club’s current owner is ‘personally’ trying to resurrect the deal and remain in regular dialogue with the Public Investment Fund.

They also add that Ashley remains ‘100 per cent committed’ to the Saudi-backed deal – despite reports that American media magnate Henry Mauriss was preparing a rival bid.

Pressure is continuing to mount on the Premier League following the investment group's decision to step back from talks, with Newcastle fans understandably desperate for answers.

A petition asking Premier League CEO Richard Masters to explain the process has now reached over 101,000 signatures while 40 MPs have written to the top flight after being contacted by constituents.

As of yet, the Premier League are yet to publicly comment on any aspect of the process – nor the decision of the group to back away from talks for the time being.

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