Newcastle United takeover ‘approved’, Saudis tipped to buy more European clubs

Newcastle United fans are told that the takeover at St James’ Park has been”approved”.

The Premier League will give the green light for Amanda Staveley’s Saudi-backed consortium to take charge of the St James’ Park club — when the transfer of funds are sorted.

Forbes have confirmed that “the Premier League has approved an agreed deal between Sports Direct tycoon, Mike Ashley, and a consortium led by Saudi Arabia’s Public Investment Fund (PIF).”

The Saudi Arabian Public Investment Fund are poised to purchase the Toon from Mike Ashley for 300 million pounds.

Mike Ashley has been in charge of the Magpies for 13 years, and “once the funds and paperwork are sorted an announcement will be made on or around June 1.”

Man City’s owners, the Abu Dhabi United Group, who have a majority stake in City Football Group (CFG), confirmed that they’d extended their club ownership into Belgium after buying second division Lommel SK.

CFG’s global footprint is now enormous as they’ve swelled their portfolio to nine clubs. They are:

Manchester City
New York City
Melbourne City
Yokohama F Marinos
Montevideo City Torque
Sichuan Jiuniu
Mumbai City

According to Ahmed AlBreki, who is board member of Saudi football club Al-Nassr, once the takeover of Newcastle is completed, the Saudis plan to continue building their football portfolio.

It’s claimed that PIF plan to expand into Spain, Portugal, Switzerland, and/or Belgium. The Newcastle takeover approaches it’s apparent conclusion, Mauricio Pochettino has once again been named as a target in the Toon dugout.

The takeover is virtually done, claims that Pochettino, along with Max Allegri, as the prime managerial targets for PIF.

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