Financial Amanda Staveley, who was leading their joint bid, criticized the Premier League for dragging her care.
Although sources close to the deal claim the Saudis knew a month ago that their offer would not be approved due to the hack argument in which beoutQ had meddled with Qatar-based beIN Sports, which holds leading rights to the Middle East.
Confirmation of their withdrawal came two days ago from a tearful Staveley and, while Ashley says he still hopes to resurrect a deal with the Saudis, the door is now open for Mauriss.
The American is reportedly ready to pay £ 350million, with Chris Ronnie, a longtime partner of Newcastle owner Mike Ashley and, ironically, an old school friend of Magpies boss Steve Bruce running the negotiations.
And while a mid-August deadline has been set to clarify Newcastle ahead of the 2020-21 season, there is hope that a deal could even be reached in the coming days.
If Ashley and Mauriss got this far, then the candidacy would be subject to Premier League ratification.
Ashley reached a final deal with PIF and the Reuben brothers in March after paying a non-refundable £ 17million deposit which gave them an exclusivity period to complete the deal.
But the Saudi-led bid has been mired in controversy from the start, with human rights experts calling on the Premier League to reject the move.
He even reached the halls of power in Whitehall with some government ministers keen to give the Saudi candidacy the green light and a number of labor ministers opposed the move.
Ultimately, however, the fact that public broadcaster beoutQ was convicted of theft of intellectual broadcast rights was the reason the offer collapsed and it opened the door for Mauriss, the CEO of Clear TV based in California, to make its decision.
Both Ashley and Mauriss’ teams have reportedly chatted at length over the past week, with Mauriss keen to take control of the club as soon as possible.
Sources close to Mauriss are adamant he has the funds, but a final deal will not be reached until Ashley has concrete proof that he is able to transfer them.
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