Newcastle could be just one month away from a £340m takeover by a Saudi Arabian consortium. The Magpies have reportedly been edging nearer to a change at the top after 13 years under Mike Ashley.
He has proved an unpopular figure with fans, especially during a period where buyers have come and gone at St James’ Park. But the latest bid appears to have some legs, with the Daily Telegraph reporting it could be pushed through next month.
The Public Investment Fund of Saudi Arabia want a bid which would see them own 80 per cent of the club. The final 20 per cent would be split in half between Amanda Stanley’s PCP Capital and the Reuben Brothers, owners of the Newcastle racecourse.