Saudi Arabia’s Crown Prince, Mohammad bin Salman is reportedly set to buy Newcastle in a £340million takeover bid.
According to Wall Street Journal, a £340million deal could be struck with current Magpies owner Mike Ashley within days.
Crown Prince Mohammad bin Salman is heading up the purchase from the Saudi side alongside a group of investors organised by Amanda Staveley.
If the deal goes through, it could be a huge move for Newcastle as there would be an increased investment of money into the club which is similar to Abu Dhabi’s 2008 acquisition of Manchester City.
The Saudi Crown Prince was involved in the takeover bid for Manchester United last year as part of the country’s new focus on sport and entertainment.
Mike Ashley, who is the owner of the club would be selling the club after running it for 13 years.
Ashley has been in control of the club since buying it 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.