---
title: "Newcastle United: Ben Jacobs drops takeover update involving PIF"
canonical: "https://www.footballtransfertavern.com/newcastle-united-ben-jacobs-drops-takeover-update-involving-pif/"
type: "post"
language: "en-GB"
author: "Adam Clancy"
section: "Newcastle United"
published: "2021-01-10T13:10:51Z"
modified: "2021-01-10T13:10:51Z"
---

# Newcastle United: Ben Jacobs drops takeover update involving PIF

**Ben Jacobs has dropped a very big update on the proposed £300m takeover of Newcastle United by the Kingdom of Saudi Arabia (KSA) group.**

As per a [tweet](https://twitter.com/JacobsBen/status/1347557056635695110) from the sports journalist, ‘there has been some talk’ in the Kingdom about Aramco, the KSA’s Oil Company that were [reportedly](https://www.footyheadlines.com/2020/04/saudi-aramco-to-become-newcastle-united.html) set to become the new shirt sponsor of the St. James’ Park faithful if the bid were to go through, supporting the Gulf country’s Public Investment Fund (PIF).

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However, Jacobs also added that Aramco have since dodged commenting on links to the Tyneside club, adding that they are not a private equity buyer, as he pointed out in an earlier [tweet](https://twitter.com/JacobsBen/status/1347557054802751488) that the consortium are exploring the possibility of a private equity model.

Jacobs concluded that because Aramco are 98.5% owned by the government, it is unlikely that they are the solution in terms of the private equity model.

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### Is the Newcastle takeover still possible?

The very fact that the consortium seem to be exploring their options as Jacobs has claimed is a sign that a prospective deal between Mike Ashley and the KSA group could still be revived.

However, there is still a long way to go yet, as an arbitration hearing between the Magpies and the Premier League in front of a judge likely needs to happen first in order to settle the legal disputes between the two parties.

***[In other news, find out what else Jacobs has revealed about the possible takeover here!](https://www.footballtransfertavern.com/newcastle-united-news/newcastle-united-ben-jacobs-drops-takeover-update-involving-premier-league/)***