Sale subject to Premier League approval
Mike Ashley's 13 year ownership of Newcastle United looks like it is coming to an end.
A formal announcement about a sale to a Saudi Arabian syndicate headed by Saudi crown prince Mohammad bin Salman who is one of the richest men in the world, is expected before the end of the week.
Financier Amanda Staveley is said to have arranged the deal and her company will take a 10% stake in the club.
The 300 million pounds sale price is less than the figure of 330 million previously agreed but it is thought that the new figure is as a result of the arrival of the coronavirus pandemic.
The Premier League will now carry out checks before it can give approval for the sale. This process can take up to two weeks.
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