A £300 million ($391 million) bid to take over Newcastle United from a Saudi Arabian-led group has been deemed no longer commercially viable, as the group waited for more than 17 weeks to gain approval from the English Premier League.

The Saudi Public Investment Fund, PCP Capital Partners, and RB Sports & Media consortium released a joint statement noting they have withdrawn their offer due to the “unforeseeably prolonged process” to gain approval from the EPL, according to The Independent.

Newcastle has been in dire financial conditions as of late, and the investment group had no option but to pull out of the deal after their interest expired:

“With a deep appreciation for the Newcastle community and the significance of its football club, we have come to the decision to withdraw our interest in acquiring Newcastle United Football Club,” the group said in a statement to Sky Sports.

The Premier League’s board embarked on a deep examination of the proposed takeover as part of an “owners and directors test” to estimate how suitable the ownership group would be.. CEO Richard Masters suggested there were complications in the proposed takeover.

“Ultimately, during the unforeseeably prolonged process, the commercial agreement between the Investment Group and the club’s owners expired and our investment thesis could not be sustained,” the group said in the statement.

The investors said there was a lack of clarity as to what was impeding the process, including a proposed start for the 2020-21 season and the new norms for matches, fan attendance, training, among others.

It's certainly a nebulous time to navigate the sale of a club in the wake of a worldwide pandemic, but nearly four months of waiting would drive any investment group crazy for answers.