Saudi Arabia’s PIF remain in talks over Newcastle United takeover

With football being postponed at the moment, and the club’s non-playing staff being put on furlough, it seems Newcastle United fans could finally see Mike Ashley selling the club.

A lot of Newcastle fans had protested against Ashley in the past, and he is not a popular figure among the fans. Ashley has often said he would be ready to sell the club once suitors meet his asking price, and it looks like a £340 million takeover is close to completion.

Ashley has owned Newcastle for 13 years, and probably the time is right for the club to take a step in a fresh direction. However, Newcastle United fans must not get carried away.

According to Lee Ryder of The ChronicleSaudi Arabia’s sovereign wealth fund remains in dialogue with Ashley over a potential takeover. The report claims that ‘talks for the deal are at a delicate stage’ with the Magpies owner who is currently in Miami.

Ryder writes that Ashley has a big decision to make, which probably suggests that there is an offer on the table. As of now, there has been no agreement between Ashley and PIF, but talks are ongoing.

Ashley has previously pulled the plug on proposals from the Bin Zayed Group, Amanda Staveley and Peter Kenyon’s approach with a US-consortium, but it seems the interest from Public Investment Fund (PIF) is serious.