Newcastle all set to complete £300m Saudi takeover deal

THE Saudi takeover of Newcastle United is set to be approved imminently after the Gulf state settled its piracy dispute with Premier League broadcast partner beIN Sports and gave assurances over who will control the club. Sources say the lifting of a four-year ban on Qatar-based beIN Sports being shown in Saudi, as well as the removal of all forms of piracy in the country, will pave the way for the £300million deal to be signed off soon, ending Mike Ashley’s 14-year ownership. The proposed buyout was abandoned in 2020 when the consortium — led by Saudi’s Public Investment Fund (PIF) and including Amanda Staveley and the Reuben brothers — were unable to prove separation between themselves and the Saudi state, headed by Crown Prince Mohammed bin Salman. The Premier League have now been assured the state will not be directly involved in the running of the club. Ashley opened arbitration proceedings against the Premier League last year in a bid to revive the takeover and that case was set to be heard this coming January. However, that is now unlikely to take place. The Premier League had delayed their decision on approving the deal given concerns over the involvement of the Saudi state, who they believe have been behind the piracy of their product over several years. However, with piracy issues now resolved and the Premier League satisfied they will not be signing off on Saudi-state ownership, Newcastle fans are finally set to welcome a new era that will see them become one of the richest clubs in the world.