Sources: Newcastle owners pull the plug on Man City-style takeover of European side; other options being explored

The owners of Newcastle United are unlikely to act on their interest in buying Belgian club KV Oostende, TEAMtalk understands.

The Public Investment Fund (PIF) who own 80 percent of Newcastle are interested in setting up a multi-club network of football clubs around the globe. The idea would be to forge a worldwide network of clubs in a similar manner to the City Group who own Manchester City.

Aside from Man City, City Group also own or part-own New York City FC, Melbourne City, Girona, Mumbai City and Palermo, among others.

Newcastle and PIF officials have been in talks with Oostende over a possible purchase. A delegation visited the club last week to take in a game, assess club facilities and hold further talks.

However, it is understood Newcastle are ready to end their interest in Oostende following their relegation from the Belgian Jupiler Pro League.

Oostende have recently been relegated to the second division of Belgian football following a poor season that has seen them pick up just six wins in 33 matches. They’ve been resigned to the second tier with a game to spare.

Newcastle’s owners have reservations over Oostende because of their relegation as they would prefer to purchase a club playing in their respective top-flight league.

Newcastle are now exploring other options across Europe as they look to invest in another club as PIF aim to kick-start their multi-club venture as soon as possible.

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