Newcastle ‘in takeover talks’ with Saudi Arabia’s sovereign-wealth fund

 

Saudi Arabia’s sovereign-wealth fund is reportedly in talks with Newcastle United over a £340million takeover of the club.

According to the Wall Street Journal, the Public Investment Fund is in talks with a group of investors organised by British financier Amanda Staveley.

It is claimed a final deal could be days or weeks away, although talks are at a stage where they could still breakdown.

Controversial owner Mike Ashley is looking to sell the club he purchased for £134million back in 2007, whilst Saudi Arabia is focusing on sport and entertainment as part of Prince Mohammed’s plans for economic reform of the country.

Such a takeover could mean a major cash injection for the club, who currently sit 14th in the Premier League table under Steve Bruce.

Ashley initially placed the club up for sale in October 2017, with a number of interested parties registering an interest in the club.