News has it from the Sun that the league have apparently given the green light for the Saudi-backed consortium to take charge at St James\u2019 Park.<\/p>\n
If indeed so, the move will finally culminate in bringing Mike Ashley\u2019s controversial 13-year ownership of the club to an end, something which many fans will welcome.<\/p>\n
The Public Investment Fund of Saudi Arabia, which is led by Crown Prince Mohammed bin Salman, will be taking an 80 percent stake of Newcastle.<\/p>\n
If all is well as reported, 10 percent stakeholder Financier Amanda Staveley will be fronting the consortium, which also includes billionaire British businessmen the Reuben brothers, who will also have a 10 percent stake.<\/p>\n
All that\u2019s left to be sorted out now is the transfer of fees, as Newcastle gear up in eager anticipation for what they hope will be a bold, new prosperous era.<\/p>\n
Apparently the delay has been due to Premie League officials focusing on kicking off Project Restart as they attempt to resume the season without any further delays.<\/p>\n
As had been expected, there was some opposition to the takeover, with critics highlighting out Saudi Arabia\u2019s lamentable human rights history, together with allegations of links to illegal streaming of sports events on the beoutQ black box. However, it seems the Premier League\u2019s chiefs have found no reason to prevent the takeover from happening.<\/p>\n
An announcement is expected to be made on or around June 1 with the onus of responsibility of doing so falling on Newcastle.<\/p>\n
In the subsequent weeks since the takeover was first reported, Newcastle have been rapidly linked with a host of high-profile managers and players, including Mauricio Pochettino.<\/p>\n
However current boss Steve Bruce has indicated that he still wants to be a part of the club\u2019s future.<\/p>\n
“I’m in the dark like most other people, and for that, I’m glad, really, because I can’t comment on it,” Bruce told Sky Sports, per the Mirror.<\/p>\n
“It’s not worth talking about it as I really don’t know.”<\/p>\n
The 59-year-old added: “If it’s good for\u00a0Newcastle, and the club are going to try to compete with these teams, to be part of it would be great.<\/p>\n
“I’d love to see it, and I’d love to be part of it.”<\/p>\n
Newcastle suffered the ignominy of two relegations under Ashley but they\u2019ll be hoping to rebound if the takeover is officially completed.<\/p>\n
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