The Premier League are thought to have given Newcastle’s £300 million Saudi-led takeover the green light and an official announcement could be made in the coming days, as is understood by The Daily Express.
As per the article, a prospective deal worth £300 million was agreed between current owner of the Tyneside club Mike Ashley and businesswoman Amanda Staveley’s PCP Capital Partners, backed by the Saudi Arabian Public Investment Fund (PIF) and billionaire property investors the Reuben brothers.
However, the Toon faithful have been waiting on approval from the top flight, who have finally finished conducting their owners’ and directors’ test, for some time.
Concerns over the Saudi Arabia government’s links to the television piracy of matches in England’s highest division in the country and its human rights record have put question marks over the bid.
But Staveley’s Middle Eastern consortium are now thought to be increasingly close to assuming control from the CEO of Sports Direct at St James’ Park, as the league have given them the thumbs up.
This piece of news will surely delight the majority of Magpies, as they have been itching and scratching their heads for a number of weeks now as to if and when the proposed takeover in the North East would or even could take place.
That said, until there is an official confirmation from the Premier League that they have approved the deal and have officially given the green light for the Saudi-led consortium to move in, then NUFC supporters will have to wait just that little bit longer, but the signs do look promising from here on in judging by this report.
Have the Premier League delayed this for too long?
Geordies, do you believe that an official announcement is close? Comment below!
Click here to comment on this articleor
Give us feedback on your Football Transfer Tavern experience