Newcastle United could soon have new owners, with a £300m takeover bid underway to take the premier league club out of the hand of the notorious Mike Ashley.
Ashley is way too aware of the sentiment and he placed the club up for sale back in 2017. After some false start, it may appear that he may now have found a new buyer, with the premier league been informed that the process is close to completion.
Saudi Arabia's public investment fund (PIV) headed by the crown prince Mohammed bin Salman, is the main mover behind the bid to purchase Newcastle United from Ashley.
It is reported that the takeover plans will see the Saudi PFI acquire 80% of the stake in the club, leaving 20% to British businessman( Reuben brothers) and Amanda's Staveleys PCP capital.
The 34 year old heir will ascend to the throne after the death of his father, 84 year old King Salman bin Abdulaziz.
Prince Mohammed is known for his lavish spending. He has bought a $500 million yacht, a $300 million French chateau, and a $450 million Leonardo da Vinci painting. According to one estimate, the Saudi royal family which has about 15,000 members is worth up to $1.4 trillion.
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