The US businessman was in talks with Mike Ashley about a deal for United, as revealed by NewcastleWorld last year, but pulled out of negotiations.
He was then asked to come back to the table with a renewed offer but decided against it.
The club was sold to the Public Investment Fund of Saudi Arabia, PCP Capital Partners and RB Sports and Media in a deal worth around £305million in October 2021.
The Saudis have an 80% stake in the club, while the other two parties share 20%.
Crystal Palace part owner John Textor, who looked into a full buyout of Newcastle United as recently as February, 2021.