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Amid takeover speculation, former Newcastle manager says Mike Ashley has realised something very important

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Newcastle United could reportedly have new owners.

Graeme Souness working for Sky Sports

Graeme Souness has told Sky Sports that Newcastle United owner Mike Ashley has realised that the Premier League is too expensive for him.

The former Newcastle manager has also given his take on the current takeover situation at the club.

According to BBC Sport, Newcastle are close to changing owners, with Ashley set to sell the club.

It has been reported that financier Amanda Staveley is leading a bid which involves Saudi Arabia’s sovereign wealth fund and the Reuben Brothers.

Souness told Sky Sports: “It will be welcomed by every Newcastle supporter. Generally with these things, if they’re serious you don’t hear about them but this has dragged on for an enormous amount of time.

“Ashley was seen as a saviour going in there – an extremely wealthy man, but as wealthy as he is, the Premier League is a very expensive place to operate in today if you’re looking to spend your own money.

“He quickly realised that, so he’s been looking for someone to come in with fresh investment to take Newcastle back to where they think they should be, which is the top end of the league and maybe getting back into the Champions League.

“It will be welcomed by every Newcastle supporter and I think even Ashley wants out. He’s made it plain that if someone comes up with the right price, he’d be out of there.”

Owner of Sports Direct and Newcastle United, Mike Ashley, arrives at the High Court on July 10, 2017 in London, England. Mr Ashley is defending himself against a lawsuit filed by former...

Positive for Newcastle United fans

Over the years, Newcastle fans have complained that Ashley has not invested enough in the squad.

The Magpies have also been relegated to the Championship twice under the English businessman.

With potential new owners coming in, the St. James’ Park faithful will have to be patient and should not expect a radical change in the summer transfer window.

Perhaps in the next two or three years, Newcastle will be in a position to challenge for the Champions League places.

Football in England is suspended at the moment due to the global health crisis.

Newcastle United owner Mike Ashley (C), Linda Ashley (L) and managing director Lee Charnley (R) look on from the stand prior to the Barclays Premier League match between Tottenham Hotspur...