Premier League approves Newcastle takeover

Newcastle new owners have huge boost to their plans to takeover the Magpies as the Premier League gave their approval to the deal.

Amanda Staveley is the head of the bid of £300 million for Newcastle United, and he has the backing of Saudi Arabia’s Public Investment Fund (PIF), which is fronted by Mohammed bin Salman.

The takeover proposed by them has been treated very well by the Newcastle fans as they want to see their favourite team with the richest owners in the Premier League and they want to see the back of incumbent owner Mike Ashley.

The PIF are believed to have a net worth more than £260bn, and in perspective, Manchester City’s owner Sheikh Mansour, who is currently the wealthiest Premier League owner has a net worth of £23.3bn.

Ever since the PIF proposed £300 million to buy Newcastle, there has been strong opposition to the proposed takeover.

Many doubted that the Premier League will allow that deal to be done as questions of human rights abuses in Saudi Arabia have led to criticism of the Saudi regime, while the fiancee of murdered journalist Jamal Khashoggi, Hatice Cengiz, has written to the Premier League saying the crown prince should not be able to buy Newcastle.

But as it seems the Premier League approves the takeover of the Magpies, according to the Saudi state news channel Al Ekhbariya.

The Daily Mail also claim that the Premier League gave green-light to the financial takeover over Newcastle United.

“This is a game-changer,” told Jason Cundy, former Chelsea defender, to talkSPORT.

“Steve Bruce has done a very, very good job, but they are moving to the next level. They won’t stick with some of the players they’ve got in their squad.

“Everyone knows that they are now looking to upgrade, and they are going to upgrade everything; on the pitch, in the dugout, their scouting network… everything.

“You’ve got to get the right people in doing the right jobs, and that isn’t always easy.”