Home News newcastle united fans react to the times report on potential club takeover

Newcastle United fans react to The Times report on potential club takeover

Updated

on

Disclosure
We sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy.
Saudi

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:

https://twitter.com/BenChar60671210/status/1252046264759394305?s=20

https://twitter.com/downt0wn/status/1252046551418986496?s=20

https://twitter.com/GiarcNE40/status/1252101901149224963?s=20

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.