Newcastle United to be Sold to Saudi Arabians at 300million Pounds

The £300 million (AUD 588m) deal is gathering pace, with the Saudi Arabian Public Investment Fund having paid current owner Mike Ashley a deposit.

Yasir Al-Rumayyan, a close associate of Mohammed bin Salman, will become new chairman – with his powerful friend also backing the Magpies’ takeover.

Following the deal’s completion, the Saudi consortium will own 80 per cent of the club – with Amanda Staveley and the Reuben brothers evenly splitting the remaining 20 per cent.

While some fans question the ethics of Saudi ownership, others are simply excited at having owners worth more than TEN TIMES Manchester City’s Sheikh Mansour.

After 13 years of Mike Ashley at the helm, Newcastle is essentially about to be owned by the Saudi Arabian state.

The Saudi Arabia Public Investment Fund invests on behalf of the country’s government.

The Toon can be certain of eye-watering spending after Ashley’s stingy tenure, with the gulf state one of the richest in the world.

Chaired by the controversial Mohammed bin Salman, and governed by Al-Rumayyan – the St James’ Park outfit will be run by some of the world’s most powerful people.

But while the prospect of big-spending may be exciting, some supporters will feel uncomfortable about the country’s appalling human rights record.

Mike Ashley is set to sell Newcastle for three hundred million pounds

0 Comments

*Enter your name

*2 characters minimum.

Do not change these fields following

Download our app from play store and get updates everyday for FREE. Press the button below.