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Luke Edwards provides latest update on Newcastle United takeover

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Mike Ashley

If you’re following the Newcastle United takeover saga closely, you’ll get the vibe that it is close to being done.

Newcastle United fans are waiting anxiously for the official confirmation, while journalists close to the club are pretty confident that the potential new owners will get the official thumbs-up from the Premier League to complete the deal.

Mike Ashley has finally agreed to sell the club to the Saudi investors led by Staveley for a fee of £300 million, a drop-down of £40m from his initial valuation.

The Chronicle reported earlier this week that Newcastle United fans will have their say on the £300m Saudi Arabia-funded takeover next week. MP Chi Onwurah and Newcastle United Supporters Trust have organised an online meeting to be held on Monday May 4, and it will be hosted by the Athletic journalist George Caulkin.

Amidst all these, doubts still remain. While the Staveley group is pretty confident, no one has heard anything from Mike Ashley as of yet. Luke Edwards of The Telegraph has claimed that the next seven days are absolutely crucial for the takeover.

He suggests that if the takeover process doesn’t get completed by next week, then fans can expect some sort of response from Ashley.

It has been claimed that Saudi Arabia’s Public Investment Fund, led by Crown Prince Mohammed bin Salman, will acquire an 80% stake in the club, while Amanda Staveley’s company PCP Capital Partners and the billionaire Reuben brothers will acquire 10% each.