Saudi Prince In Talks To Buy Newcastle United For £340 Million
Newcastle United are reportedly in talks with Saudi Arabia's Crown Prince Mohammed bin Salman over a £340 million takeover of the club.
The Magpies have been owned by Mike Ashley since 2007 and despite a number of proposals in the past, the Sports Direct businessman has remained at the helm - much to the frustration of the club's fans.
But fresh reports from the Wall Street Journal say that the Saudi Arabia state, specifically the Public Investment Fund, are in negotiations and a deal could be thrashed out in the coming days.
Saudi Arabia's Sovereign Wealth Fund are in talks to buy Newcastle United, Sky Sports News can confirm.- Sky Sports News (@SkySportsNews) January 25, 2020
It is still noted, however, that it's not completed just yet and there is still a chance of the deal collapsing.
A key figure in a potential agreement is British businesswoman Amanda Staveley, who has organised the group of investors through her strong connections in the Middle East.
The 46-year old ,a former girlfriend of Prince Andrew, was in the stands at St James' Park for Newcastle's 1-1 draw with Liverpool back in October 2017.
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She advised on the game-changing deal that saw Sheikh Mansour buy Manchester City and dramatically change the club's fortunes.
Prince Salman, who was integral in Saudi Arabia hosting the big-money world heavyweight title 'Clash on the Dunes' rematch between Anthony Joshua and Andy Ruiz, recently attempted to buy Manchester United.
He was said to have tested the waters with two offers - one of which was said to be a huge £3 billion - but was ultimately unable to convince the Glazer family to sell.
Any deal for Newcastle would be a much cheaper project, with plenty of potential at a club that has stagnated in recent times.
Dubai-based billionaire Sheikh Khaled Bin Zayed Al Nahyan held discussions with the Tyneside club last year and provided proof of funds before things went quiet.
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