A Saudi Arabian-led consortium is close to finally taking over Newcastle United and ending Mike Ashley’s 14-year-old ownership of the club, with a deal expected to be approved imminently.
Some sources have suggested the deal could even be completed within the next 24 hours – although others are more cautious – with Amanda Staveley, the British businesswoman, likely to be the face of the takeover on an interim basis before being moved aside.
The development follows the news that Saudi Arabia has lifted its four-year ban on beIN Sports to allow Premier League, Uefa and Fifa matches to be broadcast legally in the country again and promised to tackle piracy.
However the Guardian understands that the resolution of the piracy issue has not been a key factor in putting the deal, which was first mooted in March 2020, back on the table. Rather it has been about the Saudi backed public investment fund providing assurances that the Saudi state would not be involved in running Newcastle.