Sky reporter delivers ‘major development’ in Newcastle takeover saga after ‘movement overnight’

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Keith Downie has told Sky Sports – as per Football Daily – that all parties are working around the clock to push through a Newcastle takeover today.

Reports emerged this week that a Newcastle takeover is back on, after a piracy issue between Saudi Arabia and BeIN Sports was resolved.

That has led to the Premier League being more willing to ratify a £300million move, which will be mostly financially backed by the Saudis.

Namely, the Saudi Arabia Public Investment Fund – who will own 80%. The consortium also includes the Reuben Brothers and Amanda Staveley.

Both the Reuben Brothers and Staveley’s PCP Capital Partners will own 10%. Downie delivered an update on the takeover, after a midnight development.

He says that a deal could actually go through today [Thursday, 7/10]. Downie also says that all parties involved are working hard to get it done.

“I can tell you that the major development is that it could be announced later today. All parties are working around the clock,” Downie said.

“When I say all parties – I mean Newcastle, the Premier League and the consortium themselves to push this takeover through.

“Hopefully, in time to have the keys for the game against Spurs after the international break. This deal is close, edging closer, movement overnight.”

Downie on Newcastle takeover: Brace yourself Toon fans

Cans. Newcastle fans, it is time to rejoice. The years of pain, mediocrity, frustration and anger are seemingly set to come to an end.

Newcastle are on the brink of returning to the big time, the years of glory. European football on Tyneside is a real possibility in the next few years.

It is enormous. You would struggle to find a fanbase that deserve it more than the Toon faithful. Neutrals on social media are buzzing for Newcastle.

Whether a deal goes through today or not, is insignificant in the grand scheme of things. But how amazing would it be to have new owners before the end of the international break.