Home News Newcastle United: Premier League approves £300m take over by Saudi-backed consortium

    Newcastle United: Premier League approves £300m take over by Saudi-backed consortium

    The hopes of Mohammed Bin Salman, Prince of Saudi in the buying of Newscastle United has finally gotten its approval by the Premier League according to reports on Thursday, May 21, 2020.

    It has been gathered that after several debates by the PL bosses which ran into weeks, the proposed £300million takeover of the club was given green light.

    When the transfer of funds are sorted, Amanda Staveley’s Saudi-backed consortium is expected to take charge of the St James’ Park Club.

     Toon fans could be poised to get their wish and finally see the back of owner Mike Ashley

    There had been a delay while authorities work on Project Restart as they try to get the game up and running amid the Covid-19 crisis.

    According to SunSport, the League’s owners and directors test found no barrier to the takeover.

    As soon as funds and paperwork are sorted, an official statement is expected to be made by Staveley.

     Saudi Crown Prince Mohammed bin Salman is behind a consortium on the brink of taking over Newcastle

    Newcastle fans want current owner Mike Ashley out after a 13-year reign that saw Toon relegated to the Championship twice.

    They want him out because they blame Ashley’s lack of investment — with top players sold while St James’ Park and the club training ground have also been allowed to decay.

    Earlier there were are reports that Italian Serie A club AS Roma have contacted Saudi Crown Prince Mohammed bin Salman over a potential takeover of the club.

    Salman’s hope of acquiring Premier League club Newcastle United for £300million was dealt with a big blow as English officials claim to have received new documents over piracy accusations.

    It was gathered that concerns arose after evidence established a clear link between the Saudi state and a pirate TV service which streams sporting events illegally.

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