Newcastle United takeover dealt blow as PIF target move for European powerhouse

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It's been a week to forget for Newcastle United supporters.

After more than four months of speculation regarding a sensational takeover of the club, the Tyneside outfit find themselves back at square one after an infuriating few days.

With a £300million deal from Amanda Staveley's Saudi-backed consortium on the table, fans were getting incredibly excited at the prospect of what was on the horizon.

With Saudi Arabia's PIF proposing to own 80% of the club, Newcastle United were in line to become the richest club in the Premier League.

Not only that, but they'd have finally seen the back of current owner Mike Ashley - a wish that many fans have held for several years.

But unfortunately that won't be happening.

Sky Sports revealed on Thursday that the buying party had withdrawn their interest in a deal to buy the club.

They cited 'the prolonged process under the current circumstances coupled with global uncertainty' as the main reason.

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While The Athletic's revealing interview with Amanda Staveley hinted that their interest was not over, it now appears that PIF could be moving their attentions to another of Europe's major sides.

Reports in The Sun have claimed that the Saudi group are now targeting AC Milan with a view to a potential purchase.

While the Italian giants may not be the dominant force that they were 10-15 years ago, it's claimed that they could be the ideal profile of club for PIF to take hold of and turn into the richest club in the world.

GIVEMESPORT'S Phil Spencer says...

This would be a real blow for Newcastle United.

Supporters are heartbroken after what happened earlier this week with many questioning their long-term support of the club as a result.

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Fans were dreaming of becoming the richest club in the world at a time when they desperately want their club back from the clutches of Mike Ashley.

With PIF withdrawing their interest, supporters are struggling to see where the club goes next as they face the now-daunting prospect of next season which could see them struggle to compete given the reported lack of funds that will be available.

The one ray of light on Tyneside had been the hope that PIF could reignite their interest in an attempt to finally push a deal over the line.

However if this interest in AC Milan is to be believed, then it would be a bitter blow.

Similar to the Magpies, the Italian giants have enjoyed hugely successful days in the past but need a bit of backing to help them get back to their former glory.

The Saudi-backed consortium would certainly be the group to do that given their financial position of power, however if it was to happen it would really be rubbing salt into the wounds of the Newcastle supporters who are already hurting.

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