Investment firm Belgravia has abandoned its proposed takeover of Newcastle United.
The Jersey-based firm had announced last August that it was considering making a bid for the Tyneside club but today dropped out of the running.
A statement from Belgravia issued this morning said that the offer had failed to materialise because of deadlock over "a price and transaction structure".
It emphasised that "lengthy and protracted negotiations" had taken place prior to the decision to walk away, before adding that the deal on the table would have been "in the best interests of the football club and its supporters".
Today's announcement follows the withdrawal of another prospective buyer, Polygon, earlier this month.
The US-based hedge-fund investment firm has not ruled out returning for another bid for the St James' Park side in the future, however.
Belgravia's statement contained a similar proviso, reserving its right to announce an offer or possible offer in the next six months if circumstances at the club changed.
Toon fans will be hoping their side's finances improve in 2007. Last year's final results saw an overall £12 million loss, which the club blamed on its failure to qualify for the 2005/6 Uefa Cup.
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