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Newcastle On Brink of Being Taken-over By Saudi-Backed Consortium

 

English Premier League club, Newcastle United FC are believed to be at the verge of being taken over by a Saudi Arabia’s backed consortium.

The takeover deal is estimated at £300 million.

Reports say the Premier League are expected to give the green light for Amanda Staveley’s Saudi-backed consortium to take charge of the St James’ Park club.

Saudi Arabia Crown Prince, Mohammed Bin Salman is said to be behind the consortium seeking to take over Newcastle United.

Mohammed Bin Salman

That will be after the transfer of funds is sorted.

According to reports,
the Premier League’s owners and directors test found no barrier to the takeover.

Financier Staveley is fronting the bid. She is accordingly expecting official approval next week.

Then once the funds and paperwork are sorted an announcement will be made on or around June, reports say.

Newcastle fans want current owner Mike Ashley out after a 13-year reign that saw Toon twice relegated to the Championship, The Sun reports.

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