A consortium backed by US hedge fund Polygon dropped its interest in English Premier League club Newcastle United.
The St. James' Park Group Ltd (led by Polygon) said “that it is no longer in discussions regarding such (a) possible offer and has no intention of making an offer for Newcastle United Plc at this time."
Polygon had first made an approach for the club in June and held talks. It’s withdrawal of interest leaves the way clear for Jersey-based investment firm Belgravia Group, which has also held talks with the club.
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