Newcastle: Saudi Crown Prince set to complete £340m takeover bid of club

Newcastle: Saudi Crown Prince set to complete £340m takeover bid of club

Newcastle are the latest Premier League club willing to be bought by the Saudi Arabian Crown Prince Mohammad bin Salman, reports claim.

The Wall Street Journal claim a final deal between President of Magpies Mike Ashley and the Crown Prince is in its final stage

The Saudi royalty was responsible for holding top events in the Arabian nation in 2019 including a major WWE event and Anthony Joshua vs Andy Ruiz rematch.

Salman had previously tried to buy Premier League giants Man United for £3billion or supporting a state bid last year but could not persuade the Glazers to sell.

Taking over the St, James' Park outfit could be similar to the Abu Dhabi's acquisition of Manchester City in 2008.

And a staggering £1bn has been pumped into the club seeing the Etihad outfit win the league titles, FA Cups and League Cup trophies in almost 12 years.

Former Chelsea and Manchester United chief Peter Kenyon relaunched his attempt to buy as well as American firm GACP Sports - who also own Bordeaux.

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Efforts were also made by Sheikh Khaled bin Zayed Al Nahyan and Midhat Kidwai including a Mexican consortium called the Orlegi Sports.

Ashley has been in control of Newcastle since buying the club in 2007 but has grown increasingly unpopular throughout his time at Tyneside.

There has been plenty of mass protests from supporters over the years who are frustrated with his unwillingness to invest in the club.

In January 2019 transfer window, he finally broke the Toons' 14-year record by signing Paraguayan international Miguel Almiron for £20.7m.

And under new manager Steve Bruce, Ashley splashed out a whopping for Brazilian striker Joelinton last summer.

But neither of the of the South Americans have quite settled in the North-East just yet with just three Premier League goals between them.

Newcastle are currently 14th on the Premier League table and manged to squeeze a point at Everton after falling behind from a two-goal cushion.

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Meanwhile, Legit.ng had earlier reported that Eddie Hearn wishes Tyson Fury to emerge victorious over Deontay Wilder in the WBC heavyweight rematch on 22 February.

The British and the American fighters will face off for the second time and Anthony Joshua's promoter would see who Joshua's next opponent would become.

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Source: Legit.ng

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