Newcastle United owner Mike Ashley is reportedly on the verge of selling the club.
According to The Shields Gazette, Saudi Arabia’s Public Investment Fund (PIF) has agreed a £300 million deal for Newcastle in conjunction with financier Amanda Staveley and billionaire property investors David and Simon Reuben.
The report has claimed that it is now up to the Premier League to give the go-ahead to the takeover after doing the owners’ and directors’ test.
Former Sky Sports presenter Keys has claimed that there is another bid on the table for Newcastle, which current owner Mike Ashley prefers.
Keys said on The Keys & Gray Show, as transcribed by The Shields Gazette: “There is one way out of this, and it might be that it suits everybody. I know for a fact there’s another bid on the table – and there has been for some time.
“I thought it would come to a conclusion at Christmas. I thought it might come to a conclusion early in the New Year. The one thing Mike Ashley has not done is comment on this speculation surrounding the current bid – said nothing.
“I still believe he would prefer the other bid to come a successful conclusion. The Saudis, I think, have got two weeks exclusivity left, and then watch and wait for developments.”
Moving forward
Given how far the current takeover process has reportedly progressed, it is hard to see a late move from anyone else.
It does seem very likely that Newcastle will be owned by PIF, and that Ashley will be gone from the Premier League club for good.
Football in England is suspended at the moment due to the global health crisis, and it is not clear when the season will get back underway.
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