MX23RW : Friday, May 29 03:57:03| >> :120:26126:26126:

Newcastle United £340m takeover 'could be completed within months'

Newcastle £340m takeover 'could be completed within months'
© Reuters
A proposed £340m takeover of Newcastle United by a Saudi Arabian consortium could be completed within months, according to reports.

A proposed £340m takeover of Newcastle United could be completed within months, according to a report.

The Magpies have been officially up for sale since October 2017, but a number of proposed takeover bids have fallen through in that time with controversial owner Mike Ashley still at the helm.

A Saudi Arabian consortium is the latest believed to interested in buying the club, and The Telegraph reports that they could push the deal through before the summer.

The proposed bid is thought to be worth £340m and would see the Public Investment Fund own 80% of the club, with 10% belonging to Amanda Staveley's PCP Capital and the final 10% acquired by Newcastle racecourse owners Reuben Brothers.

The Premier League have reportedly been made aware of the bid in order for them to begin their checks to ensure that the funding is available.

However, the shutdown of football due to the coronavirus pandemic and the knock-on effect on finances could have an impact on the takeover, or at least cause a delay to the deal going through.

Ashley bought Newcastle for £134m in 2007 and has seen the club relegated from the Premier League twice during that time.


Newcastle takeover - Click here for more stories

Click here for more stories about Mike Ashley

Click here for more stories about Newcastle United

Share this article now:
Mike Ashley pictured in June 2016
Read Next:
Two investors in talks with Mike Ashley over buying Newcastle
Latest Sports Video
Did you know...?
Sports Mole Logo
Enter your email address to subscribe to Sports Mole's free match previews newsletter! Updates are sent twice a week.

rhs 2.0
2Manchester CityMan City28183768313757
3Leicester CityLeicester29165858283053
5Manchester UnitedMan Utd29129844301445
6Wolverhampton WanderersWolves29101364134743
7Sheffield UnitedSheff Utd28111073025543
8Tottenham HotspurSpurs29118104740741
11Crystal Palace29109102632-639
13Newcastle UnitedNewcastle2998122541-1635
15Brighton & Hove AlbionBrighton29611123240-829
16West Ham UnitedWest Ham2976163550-1527
19Aston Villa2874173456-2225
20Norwich CityNorwich2956182552-2721

Subscribe to our Newsletter

Transfer Talk Daily
Match previews - twice weekly
Morning Briefing (7am UTC)
Ultra close-up image of Kevin De Bruyne [NOT FOR USE IN ARTICLES]Get the latest transfer news, match previews and news direct to your inbox!