Saudi-backed takeover of Newcastle United completed

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Newcastle United fans – your club is finally under new ownership!

Majority owner and Saudi Prince Mohammad Bin Salman, has reached an agreement to buy Newcastle United from Mike Ashley – ending the British businessman’s 14 year-long reign at the club, as confirmed by BBC Sport.

Ashley, who has been a massively controversial figure in the North of England, is now set to depart the club, leaving behind him a very underwhelming legacy.

MORE: “First big name signing!” These fans think they know who will be Newcastle’s first signing post-takeover

For many seasons now the Magpies have yo-yoed between top-flight and second-tier football all while fans have been forced to watch on as Ashley avoids investing in on-field talent as best he can.

However, after an ongoing back and forth, Thursday afternoon brings with it good news if you’re a fan of Steve Bruce’s side.

The proposed takeover understood to be worth a whopping £300m, has now been completed.

The Premier League, who had concerns that the Saudi state would control the club, recently approved the takeover after receiving “legally binding assurances” that, that would not be the case.

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