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Sunday, October 17, 2021
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HomeSportsNewcastle United's £300m Saudi takeover now set to GO THROUGH

Newcastle United’s £300m Saudi takeover now set to GO THROUGH

The Saudi takeover of Newcastle United is set to be approved after the Gulf state settled its piracy dispute with Premier League broadcast partner beIN Sports and gave assurances over who will control the club.

Sources close to the process have indicated that the lifting of a four-year ban on Qatar-based beIN Sports being shown in Saudi, as well as the removal of all forms of piracy in the country, will pave the way for the £300million deal to be signed off, ending Mike Ashley’s 14-year ownership.

A buy-out was abandoned in the summer of 2020 when the consortium — led by Saudi’s Public Investment Fund (PIF) and including Amanda Staveley and the Reuben brothers — were unable to prove separation between themselves and the Saudi state, headed by Crown Prince Mohammed bin Salman.

Mike Ashley's (left) 14-year reign as owner of Newcastle United looks to be coming to an end
Takeover is backed by Saudi's Public Investment Fund, led by Prince Mohamed bin Salman (R)

The Premier League have now received assurances that the state will not be directly involved in the running of the club and sources say this will see the deal given the green light in the coming days.



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