The Saudi Public Investment Fund, Thursday, announced that it had withdrawn the offer it previously made to acquire the Newcastle United team, in exchange for paying $ 391 million to its owner Mike Ashley.
The withdrawal of the offer came after the sports and human rights circles launched a campaign against Saudi Arabia's acquisition of the club, "given the Saudi authorities' involvement in violating human rights."
The Saudi sovereign fund said - in a statement - that the operation was unexpectedly prolonged, regretting that.
"With our deep appreciation to the Newcastle community and the importance of his football club, we reached a decision to withdraw our interest in acquiring the Newcastle United Football Club," he added.
The Times reported that British businesswoman Amanda Stephen, who represented the sovereign fund in the deal, was crying when she told reporters to withdraw the offer.
It is noteworthy that the Saudi Fund made its offer 4 months ago, but it did not exceed the test of managers and owners conducted by the Premier League.
Many jurists and athletes have opposed the Saudi authorities' takeover of the famous club, accusing Riyadh of being involved in a violation of human rights.
Others also raised the issue of Saudi Arabia's involvement in harming global football by hacking broadcasts "BN Sport".
In front of the British House of Commons, Premier League chief executive Richard Masters expressed his frustration with Saudi Arabia's handling of TV broadcasting and intellectual property rights.
The BBC reported that the English Premier League was "demanding clarification of the relationship between the Public Investment Fund and the Saudi state."