PIF are financing a £300 million takeover of the Saint James’ Park outfit, with 80% of the shares set to belong to them post-takeover.
David and Simon Reuben will own 10%, while Amanda Staveley, who has fronted the bid all along through PCP Capital Partners, will own the remaining 10%.
It has been almost six weeks since reports first emerged that Ashley has agreed to sell Newcastle to PIF, and fans have been left frustrated as the delay drags on.
However, many of them reckon Forbes reporting it at this stage means the takeover is all but certain, and here is how some of them have reacted to it on Twitter:
When’s the announcement expected?
— plastic bag (@YummyYedlin) May 21, 2020
— James griffiths (@Jamesgr03407364) May 21, 2020
— cookiemonster (@flashbang99) May 21, 2020
— Jack Chaytor (@jchaytor16) May 21, 2020
It's Forbes. Don't get more reliable to be honest.
— Ricky Palfreman (@PalfremanRicky) May 21, 2020
Massive source 😧
— jonny (@jgray2706) May 21, 2020
— David Burnett (@David_M_Burnett) May 21, 2020
— Brain 🇸🇦 (@willr171) May 21, 2020
While the takeover has been given the greenlight, PIF will have to transfer the remaining £283 million to Ashley after depositing £17 million last month and the necessary paperwork will have to be sorted before an official announcement is made.