[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Friday, 19 January 2007, 07:37 GMT
Belgravia ends Newcastle Utd bid
NUFC's Scott Parker
Newcastle United captain Scott Parker
The Belgravia Group investment fund has said it no longer intends to make an offer for Newcastle United.

Jersey-based Belgravia said that despite protracted negotiations with the club, it had been "unable to agree a price and transaction structure".

It added that it felt its planned offer would have been in the best interests of the club and its supporters.

It is the second firm to end takeover interest in Newcastle this year, after the Polygon hedge fund also pulled out.

Future interest

However, Belgravia said it did not rule out resurrecting its interest in Newcastle in the future if circumstances changed.

It said it could return with a fresh offer if a recommendation from the Newcastle board was forthcoming, or if a third party announced an offer.

US firm Polygon and its St James' Park Group consortium has also said it could return to make an offer or possible offer for Newcastle if circumstances change.

Belgravia is a private company with interests including construction, hospitality, aviation and sports marketing.

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 Newcastle chairman Freddy Shepherd, who owns a 28% stake in the football club.

In October 2006, Newcastle United announced a 12m financial loss for the year after heavy investment in players and a fall in revenues as a result of its failure to qualify for Europe.


SEE ALSO
Polygon ends Newcastle bid talks
04 Jan 07 |  Business
Newcastle reveal Polygon approach
20 Dec 06 |  Newcastle United
Newcastle deny takeover rumours
15 Dec 06 |  Newcastle United
Newcastle Utd slide to 12m loss
27 Oct 06 |  Business
Investors eye Newcastle Utd bid
21 Aug 06 |  Business

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

PRODUCTS & SERVICES

Americas Africa Europe Middle East South Asia Asia Pacific