Report: Newcastle United takeover could be completed soon and announcement could take place within 24 to 48 hours

According to Eurosport France journalist Manu Lonjon, the Newcastle United takeover is edging closer and an announcement could take place within the next one or two days.

Saudi Arabia’s Public Investment Fund have been linked with completing a £300 million move to buy the Magpies from owner and chairman Mike Ashley, and the Premier League has taken almost more than a month carrying out its Directors and Owners test.

It was reported last week that they had given the greenlight for the takeover of Newcastle to go ahead as PIF have passed the test, with an announcement slated for June 1, and it appears that it is indeed imminent now more than ever.

Having deposited a non-refundable £17 million last month, transferring the remaining of the funds to Ashley and completing the paperwork and necessary documentation are the only things left to be done, and it appears that will be sorted in the coming hours ahead of an official announcement.

Ashley has owned Newcastle for 13 years but has failed to impress the fans with most of his decisions and policies.

The would-be owners have been tipped to invest heavily, with the training facilities, academy, squad and backroom staff expected to be able to hold their own against those of any side in the world in a few years time.