The region reacts to the withdrawal of the Newcastle United takeover bid

St James' Park, home of Newcastle united.
The region is reacting to the news that the Newcastle united takeover bid has been withdrawn. Credit: PA Images

Magpies fans and football experts have been giving their first reaction to the news that the Saudi-backed takeover of the club will not go ahead.

A joint statement from the bidding consortium involved in the bid, including Saudi Public Investment Fund, PCP Capital Partners and RB Sports & Media confirmed the withdrawal of their offer this afternoon.

The consortium had lodged a £300m bid with current Newcastle owner Mike Ashley but the Premier League had taken 17 weeks to mull over whether to ratify the deal and were yet to make a conclusion.

Chi Onwurah MP, the Labour member for Newcastle Central, was one of the first to comment, describing herself as "really upset on behalf of Newcastle United fans.

Louise Taylor, The Guardian's North East football reporter, thought the news was like a holiday disappointment.