The paperwork for the proposed takeover, which will see the Public Investment Fund of Saudi Arabia take up an 80% stake alongside Amanda Staveley and the Reuben brothers at 10% each, is now in the hands of the Premier League.
And while supporters sit anxiously, former players and pundits have weighed in with their verdict on the takeover. Scroll and click through the pages:
5. Tino Asprilla
“Mike Ashley saw fans of Newcastle like bar codes; hopefully that will end soon. This team is for lovers, not for just merchandisers.” Photo: Marco Luzzani
6. Tony Cottee
"They are a massive football club, a one-club city, and they should be looking to push into that top six. When I say that I mean they need to build slowly. If you look at Manchester City for an example. Yeah, they had loads of money injected into that football club but it took them time.” Photo: Catherine Ivill
7. Mark Bosnich
“Within four years, they will be one of the title challengers - like serious challengers. Probably even earlier but I’m just being conservative. I mean that, I’m not joking. You just watch out… Newcastle will join that elite group (top six).” Photo: Renee McKay
8. Trevor Sinclair
“The money that they have is incredible. We have never heard money of that sort linked with football ownership. NUFC will become the richest club in the world, I would imagine.” Photo: Alex Livesey