NEWCASTLE are in talks with the Saudi Arabia state over a £340million takeover bid and a deal could be done within days, according to reports. Crown Prince Mohammad bin Salman is heading up the purchase from the Saudi side alongside a group of investors organised by Amanda Staveley. According to the Wall Street Journal, a […]
NEWCASTLE are in talks with the Saudi Arabia state over a £340million takeover bid and a deal could be done within days, according to reports.
Crown Prince Mohammad bin Salman is heading up the purchase from the Saudi side alongside a group of investors organised by Amanda Staveley.
According to the Wall Street Journal, a final deal between Mike Ashley and the Public Investment Fund could be done within days or weeks – but the tentative agreement could still collapse.
Staveley was heavily involved with an attempt to take control of the St James’ Park club in 2017 before walking away from the table after making three offers – before confirming she would still be interested in pursuing a move.
Meanwhile Prince Salman was the man who convinced Eddie Hearn and Matchroom to stage the Anthony Joshua vs Andy Ruiz rematch in Saudi Arabia.
And the Prince also looked into trying to buy Manchester United for £3billion or supporting a state bid last year but could not persuade the Glazers to sell.
Newcastle provides a far cheaper alternative to the Saudi Arabian, though.
The takeover could be similar to the Abu Dhabi’s acquisition of Manchester City in 2008 which has led to more than £1bn being pumped into the Citizens to make them into one of the best teams in the world.
Former Chelsea and Manchester United chief Peter Kenyon relaunched his attempt to buy Newcastle in the autumn.
His consortium’s bid bizarrely claimed boss Steve Bruce has “unparalleled success in Europe” as American firm GACP Sports – who also own Ligue 1 side Bordeaux – plotted a £300m offer.
Newcastle were also the subject of an attempted takeover bid last year when Sheikh Khaled bin Zayed Al Nahyan and Midhat Kidwai, who confirmed terms had been agreed with the club and had proved proof of funds.
And in November, a Mexican consortium was reportedly put off working a deal with Ashley because he was “rude”.
The Orlegi Sports group – led by multi-millionaire Alejandro Irarragorri – already had Mexican clubs Club Santos Laguna, Atlas and TM Futbol in their portfolio but were hoping to move into Europe.
Ashley has been in control of the Toon since buying the club in 2007 but has grown increasingly unpopular throughout his time with Newcastle.
He continues to be targeted by plenty of mass protests from supporters who are frustrated with his unwillingness to invest in the club.
In January 2019, he finally broke the Magpies’ 14-year transfer record by signing Miguel Almiron for £20.7m.
And then in the summer, Newcastle paid a staggering £40m for Brazilian striker Joelinton.
But neither player has quite settled in the North-East just yet with just three Premier League goals between them.
