Newcastle United nearly reached a $ 375 million takeover involving Saudi aristocrats | Instant News


  • English Premier League club Newcastle United have almost reached a $ 375 million takeover at the hands of the Saudi royal family and financier Amanda Staveley.
  • BBC report that Staveley led the offer supported by Saudi Arabia’s state wealth funds, and British businessmen David and Simon Reuben.
  • Documentation has been sent to the Premier League, which now carries out checks under the test of its owner and director, the BBC said.
  • Pundit Jim White told TalkSPORT that the agreement was “completed” and that “the more likely Mike Ashley’s term will end.”
  • Ashley, who took over Newcastle in 2007, has received much criticism from fans during his tenure, with many blaming him for the club’s fall due to grace.
  • The Saudi wealth fund is indirectly under the control of the country’s controversial Crown Prince, Mohammed bin Salman.
  • Visit the Insider homepage for more stories.

English Premier League club Newcastle United have almost reached a $ 375 million takeover at the hands of the Saudi royal family and financier Amanda Staveley.

BBC report that PCP Capital Partners from Staveley led the offer supported by Saudi Arabian state wealth funds, and British businessman David and Simon Reuben. The Saudi wealth fund is indirectly under the control of the country’s controversial Crown Prince, Mohammed bin Salman.

Documentation relating to the takeover has been sent to the Premier League, which is now conducting an examination under the test of its owner and director, the BBC said.

“This has been moving quickly for a while and the £ 300 million deal is over,” expert Jim White said. speak on the TalkSPORT radio station on Wednesday.

“All that is needed is a check mark in the box of the Premier League. They have documents and everything must be approved now. This is almost out of bounds but the corona virus pandemic is understandably slowing things done.

“The two sides exchanged last week, all were silent. There is a legally binding agreement at this time.

“It seems increasingly possible that Mike Ashley’s term will end soon.”

Mike Ashley, founder of the British sporting goods giant, Sports Direct, took over Newcastle in 2007. He has received much criticism from Newcastle fans during his tenure, with many claiming that he hasn’t invested enough in the club and has no ambition. , seeing it more as a business than a sports team that wants to win a trophy.

Newcastle were regular challengers to the top four before Ashley’s reign, but have finished at the top of the Premier League only three times since 2007 and have been relegated twice.

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