Newcastle has been reportedly sold for Saudi Arabian-backed investors in a £300 million deal. The deal is only awaiting the approval of the Premier League for it to be sealed.
A formal announcement that Mike Ashley’s 13-year ownership of Newcastle has finally come to an end could now be imminent according to the Telegraph.
The prospective new owners are headed by the financier Amanda Staveley but the significant backing will come from Saudi Arabia’s Public Investment Fund which is expected to acquire an 80 percent stake in the Premier League club.
Staveley’s PCP Capital Partners will take a 10 percent shareholding with the remaining 10 percent being bought by the Reuben Brothers, who are one of Britain’s wealthiest families with a property portfolio worth £18 billion.