PIF owns four clubs in the Saudi Pro League: Al-Ahli, Al-Ittihad, Al-Hilal and Al Nassr. Newcastle have considered the possibility of entering the January market following Sandro Tonali’s 10-month gambling ban and their subsequent injury crisis.

The motion, held at a luxury London hotel, was expected to pass and although the majority did favour a ban – the proposal was left just one vote short of going through.

The meeting between shareholders lasted several hours and covered a number of topics, including Everton’s recent 10-point deduction and a new deal to help fund the Football League.