According to Forbes, the English Premier League has given approval to the agreed deal between Saudi Arabia’s Public Investment Fund and Mike Ashley over the sale of Newcastle United.
PIF are financing a £300 million takeover of the Saint James’ Park outfit, with 80% of the shares set to belong to them post-takeover.
David and Simon Reuben will own 10%, while Amanda Staveley, who has fronted the bid all along through PCP Capital Partners, will own the remaining 10%.
It has been almost six weeks since reports first emerged that Ashley has agreed to sell Newcastle to PIF, and fans have been left frustrated as the delay drags on.
However, many of them reckon Forbes reporting it at this stage means the takeover is all but certain, and here is how some of them have reacted to it on Twitter:
When’s the announcement expected?
— plastic bag (@YummyYedlin) May 21, 2020
That’s big.
— James griffiths (@Jamesgr03407364) May 21, 2020
@Forbes would not print something without having a credible proof! Specialy here they wont risk a reputation over that takeover! More to@loose than to gain. 🙂 #NUFC
— cookiemonster (@flashbang99) May 21, 2020
SCENESSSSSS
— Jack Chaytor (@jchaytor16) May 21, 2020
It’s Forbes. Don’t get more reliable to be honest.
— Ricky Palfreman (@PalfremanRicky) May 21, 2020
Massive source 😧
— jonny (@jgray2706) May 21, 2020
Huge source.
— David Burnett (@David_M_Burnett) May 21, 2020
OMGGGGGG
— Brain 🇸🇦 (@willr171) May 21, 2020
While the takeover has been given the greenlight, PIF will have to transfer the remaining £283 million to Ashley after depositing £17 million last month and the necessary paperwork will have to be sorted before an official announcement is made.
One will reportedly take place on or before June 1, and Newcastle fans can’t wait.
