Saudi Arabia Consortium To Complete Newcastle Takeover Deal In April

Newcastle could be just one month away from a £340m takeover by a Saudi Arabian consortium.

The Magpies have reportedly been edging nearer to a change at the top after 13 years under Mike Ashley.

He has proved an unpopular figure with fans, and the latest bid appears to have some legs according to the Daily Telegraph who are reporting it could be pushed through next month.

The Public Investment Fund of Saudi Arabia want a bid which would see them own 80 per cent of the club.

The final 20 per cent would be split in half between Amanda Stanley’s PCP Capital and the Reuben Brothers, owners of the Newcastle racecourse.

And the bid appears to be gaining ground as the Premier League have been contacted about it, set to make the necessary checks to endure funding is ready.

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One aspect that could delay the deal is coronavirus, which has suspended football in England until April 30 at the top level.

This article was most recently revised and updated 3 years ago

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