Report: An official statement of Newcastle United takeover could happen by early May

According to EuroSport’s journalist Manu Lonjon, an official statement concerning the takeover of Newcastle United could happen early next month.

“From a reliable source, we are expecting an official statement from them by early May.”

He earlier claimed that the Magpies are about to be sold, with the club looking for a new manager while interview for a Sports Director is ongoing.

Newcastle’s player recruitment team have been furloughed until further notice, and the move is regarded as proof that negotiations over a sale have moved forward.

Saudi Arabia’s Public Investment Fund, led by Crown Prince Mohammed bin Salman are expected to complete a £340 million takeover, with 80% of the stake going to them if the deal goes through.

PCP Capital, owned by Amanda Staveley, is expected to own 10%, with the Reuben Brothers taking the remaining 10%.

While football is currently on hold due to the coronavirus pandemic, it doesn’t appear that has hindered negotiations, and Newcastle fans will hope Mike Ashley’s 13-year ownership of the club ends really soon.

Rafa Benitez has been linked with a return to Saint James’ Park if a takeover goes through, and the fans and players will be more than glad to have the Spanish manager back.