Saudi prince Mohammed Bin Salman is rumoured to be closing in on a Newcastle United takeover from current owner Mike Ashley. As per recent reports, a £300m deal is in place for PCP Capital led by Amanda Staveley to buy Newcastle United from Mike Ashley. Staveley will have have the backing of Mohammed Bin Salman's Saudi Arabia’s Public Investment Fund, which will take an 80% stake in the club. This means that Manchester United's potential takeover by the Saudi Prince is all but over.
Manchester United were rumoured to be on the verge of a takeover by a Mohammed Bin Salman-led group of investors last year. Mohammed Bin Salman had reportedly contemplated the idea of making a £4bn bid to purchase the club from current owners - The Glazer family. However, Manchester United CEO Ed Woodward reiterated that the Glazer family were making long-term plans for the future of the club. The news of the Newcastle United takeover will stop any rumours of a potential sale of Manchester United, at least for now.