Home News newcastle united fans react to forbes report that pifs takeover bid has been approved

Newcastle United fans react to Forbes’ report that PIF’s takeover bid has been approved

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According to Forbes, the English Premier League has given approval to the agreed deal between Saudi Arabia’s Public Investment Fund and Mike Ashley over the sale of Newcastle United.

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:

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.

One will reportedly take place on or before June 1, and Newcastle fans can’t wait.

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