If the widespread reports are to be believed Mike Ashley has finally agreed a deal to sell Newcastle United.
The Times and other major media outlets have claimed that a deal in the region of £300 million has been agreed to sell Newcastle.
Ashley previously had agreed a deal in the region of £340 million, but it was reduced to £300m as economic circumstances changed.
It has been reported that Amanda Staveley and her partners, the Public Investment Fund of Saudi Arabia and the Reuben brothers, have already paid £17 million to Ashley, and it is non-refundable.
All the necessary paperwork have been submitted and everyone is waiting for approval from the Premier League.
Amidst all these, Bloomberg reported yesterday that Oil has dropped below $1 a barrel for the first time since the Coronavirus pandemic broke out.
According to the report, the price on the futures contract for West Texas crude that is due to expire on Tuesday fell into negative territory — minus $37.63 a barrel.
Former England striker turned popular football pundit Gary Lineker took to Twitter to crack a light-hearted joke about the scenario, saying the rich Saudis, who are known for their oil businesses, won’t be able to buy Newcastle.
The poor Saudis will never be able to afford to buy Newcastle now. https://t.co/itpAhq02xq
— Gary Lineker 💙 (@GaryLineker) April 20, 2020
According to reports from the Athletic, the takeover process could be completed within the next three to four weeks.