According to latest reports from The Times, the Saudi-led consortium has moved a step closer to buying Newcastle United.
The report claims that the Saudis have clinched a deal with the Magpies for a fee in the region of £300 million.
In fact, Newcastle United owner Mike Ashley was forced to drop his asking price by £40m due to the Coronavirus pandemic.
The report claims that the deal to buy Newcastle United from Ashley is done. It is now simply subject to Premier League approval.
All the relevant paper works have been signed, and a part of the deal has been paid as well. The remaining half will be paid once the Premier League approves the change of ownership.
Many Newcastle United fans have taken to social networking site Twitter after the reports broke out. Here are some of the selected tweets:
Christ alive man. Can almost feel it. pic.twitter.com/gIXLMW7EA2
— Taylor Payne (@TaylorandPayne) April 20, 2020
https://twitter.com/BenChar60671210/status/1252046264759394305?s=20
https://twitter.com/downt0wn/status/1252046551418986496?s=20
it makes it sound like the pl checks have just started and the 3 weeks begins, very confusing
— PF (@pardewfan) April 20, 2020
They need to catch up👀
— Jordan (@GeordieJordan96) April 20, 2020
https://twitter.com/GiarcNE40/status/1252101901149224963?s=20
Lovely stuff
— Alex⚫️⚪️ (@_ale3eee) April 20, 2020
Deposit paid. #cans pic.twitter.com/TtSnu8cv7Z
— Doc Gibbs (@Doc_Gibbs_NUFC) April 20, 2020
Wasnt the date on the company's house papers before Easter.
So if the PL started then it could be this week or next with (2-3week time frame)
If this is true then theres no backing out. So surely we just need a statement from either side.. or a @GeorgeCaulkin tweet of approval!
— Phil (@ToonFanPhil) April 20, 2020
https://twitter.com/CheekyNUFC/status/1252115275585110019?s=20
It seems Ashley’s deeply unpopular 13-year reign at Newcastle will come to an end before the new season begins.
The potential owners have sent a 350-page document to the Premier League which reveals details of ambitions to compete in the Champions League by offering fresh investment in three-year stages.
The potential buyers are also looking to invest a massive £200m into recruitment and infrastructure.
If the deal goes through, the Saudi sovereign wealth fund will hold 80 per cent of the club along with 10 per cent splits for financier Amanda Staveley and property tycoons David and Simon Reuben.
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