Report details massive update in Newcastle takeover

Add as preferred source on Google

The Daily Mail have claimed that a potential Newcastle United takeover could be announced this week, as Amanda Staveley’s Saudi-backed bid continues to wait for Premier League approval.

Mike Ashley has accepted an offer of £300million from Staveley’s PCP Capital Partners, which have been financially backed by the Saudi Arabia Public Investment Fund – who will control 80%.

The Reuben Brothers and Staveley’s group will boast 10% each, with a deposit paid and the takeover bid at the latter stages of Premier League checks. Plenty of obstacles have been thrown in the takeover’s path.

A report from the World Trade Organisation being the latest after claims of piracy and illegal streaming, but The Mail claim that an announcement is close and barring any new revelations – a deal could be announced this week.

TBR’s view – Takeover announcement is excellent timing

Getting a deal done this week sees Newcastle finally able to focus on matters on the pitch, which got off to an excellent start following the resumption of Premier League football – a 3-0 win over Sheffield United.

The Toon’s new owners will be desperate to get to work ahead of the upcoming transfer window, with a number of free agents likely to be on their shortlist. Getting into office now, will boost The Toon’s chances in the market.