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George Caulkin: Newcastle United buyers expecting PL approval this week

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Mike Ashley

There is an anticipation that this could be the most vital week in the Newcastle United takeover process.

A deal in the region of £300 million has been agreed between Mike Ashley and the potential new Newcastle owners. A part-payment of £17 million has been paid already, which is non-refundable, while the remaining part will be paid once they get the green signal from the Premier League.

The would-be new owners – Amanda Staveley’s consortium — comprising her company PCP Capital Partners (10 per cent), the billionaire Reuben brothers (10 per cent) and the 80 per cent majority stakeholding of Saudi Arabia’s Public Investment Fund (PIF) – are waiting for the Premier League to approve the deal.

Newcastle United fans are waiting eagerly to hear the official announcement, but according to George Caulkin, the highly-respected journalist from The Athletic, the Premier League may not say anything at all.

He claims that there will be a deadline in the contract for the money to be paid once the Premier League gives their approval. And the potential owners are determined to maintain that deadline.

Caulkin adds that the would-be owners are expecting the Premier League to give the approval at some point this week. However, it can take a few days for the money to be transferred.

Meanwhile, it seems the potential Newcastle owners have already started planning for the transfer window, with the club targeting the likes of Odion Ighalo and Gareth Bale.