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Premier League contacted over £340m Saudi takeover of Newcastle United

The Premier League have been contacted by Prince Mohammed bin Salman, following a bid of £340m to takeover Newcastle United by the Public Investment Fund of Saudi Arabia.

This is according to the Telegraph, with the league being made officially aware of the Saudi prince’s attempt to buy out Mike Ashley.

Such a move was heavily rumoured in January (via 90min), with various reports linking Salman with both Newcastle and Manchester United.

SEE MORE: Arsenal monitoring 23-year-old Newcastle United loanee

It would appear now though, that the PIF are serious about taking over the Magpies given the credible story from above. The Telegraph cite that the PIF would acquire 80% of the club, with the remaining 20% being shared equally between the Reuben Brothers and Amanda Staveley (10% each).

Such news will no doubt be celebrated by the Toon Army, as their fans have grown restless with the lack of funding by Mike Ashley. They have protested against their owner for many years now, but this leadership could soon be coming to an end.

The potential buyers have been in contact with the Premier League to register their official interest, with Yasir Al-Rumayyan being cited as a potential director.

Time will tell as whether the proposed purchase will go through, as authorities have to look into such registered interest.

It is definitely a story worth keeping tabs on though, and we are sure that many Newcastle fans already have the champagne on ice on the back of such breaking news.

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