Belgravia withdraws Newcastle interest

24 Apr 2008

By: Sport Industry Group

The prospect of a takeover bid for Newcastle United appears to have stalled after Jersey-based investment fund The Belgravia Group withdrew its interest in the club.

Belgravia stated that despite protracted negotiations with the club, it had been ‘unable to agree a price and transaction structure’.

Belgravia joins US firm Polygon in distancing themselves from a deal after the latter pulled its interest earlier this month.

The majority shareholder at Newcastle United is Sir John Hall who, with his son, owns more than 40% of the club.

The other major shareholder is chairman Freddy Shepherd, who owns a 28% stake in the football club.