The news of the Newcastle United takeover has been trending on social media following Saudi Arabian Crown Prince Mohammed bin Salman and UK businesswoman Amanda Staveley's keen interest in buying the Premier League side. The to-be Newcastle owners have already paid Mike Ashley a deposit fee from the Saudi Arabia Public Investment Fund for the £300 million Newcastle United takeover. The incoming Newcastle United owners will bring an end to the 13-year reign of Mike Ashley at the helm of the club.
The Newcastle United takeover deal is reportedly a few signatures away from completion as the Premier League needs to approve of the new Newcastle United owners. With the help of the Saudi Arabia Public Investment Fund, the Newcastle United takeover will pronounce Mohammed bin Salman's close associate Yasir Al-Rumayyan as chairman of the club. According to reports from Spanish outlet Marca, the arriving Newcastle United owners will be crowned as the Premier League richest owners. It is reported that the future Newcastle United owners are worth approximately 14 times more than Manchester City owner Sheikh Mansour.
Takeover of Newcastle United is still on track. Waiting for Premier League approval. And that’s it.— Jason Burt (@JBurtTelegraph) April 20, 2020
Newcastle United are essentially about to be owned by the state of Saudi Arabia. The Saudi Arabia Public Investment Fund is used to invest on behalf of the country's government. St James' Park is, therefore, set to be owned by one of the most powerful figures in the world following the Newcastle United takeover. It is reported that the Saudi Arabia Public Investment Fund will own 80 percent of the shares while the other 20 percent will be divided equally among other Newcastle United owners Amanda Staveley and the Reuben brothers.
Once the Newcastle United takeover is complete, the Magpies will be able to boast the Premier League richest owners. The incoming Newcastle United owners are reportedly worth £350 billion according to Marca. Manchester City owner Sheikh Mansour is reportedly worth £23.3 billion while Chelsea owner Roman Abramovic is next on the list with a net worth of £9.6 billion.