Reuters South Africa – A consortium backed by U.S. hedge fund Polygon said on Thursday it had dropped its interest in English Premier League side Newcastle United, leaving the door open forJersey-based investment firm Belgravia.
“St. James’ Park Group Ltd (the Polygon-led group) confirms 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,” the group said.
Polygon made an initial approach for Newcastle in June and held talks with majority shareholder John Hall, who with his son owns more than 40 percent of the club. Newcastle chairman Freddy Shepherd owns around another 28 percent.
