'Major' Newcastle United takeover development ahead of official announcement

Newcastle United is reportedly under new ownership – with an official statement set to follow.

Thursday, 7th October 2021, 5:07 pm
Updated Thursday, 7th October 2021, 5:09 pm

That’s according to Sky Sports reporter Keith Downie, who revealed the money and shares have been transferred from Mike Ashley’s company to the Amanda Staveley-brokered consortium.

Staveley’s PCP Partners, the Public Investment Fund of Saudi Arabia and the Reuben brothers agreed to buy the club in March 2020 but the deal was held up by the Premier League.

The announcement confirming the end of Ashley’s 14-year tenure is believed to be imminent.

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Downie tweeted: “Major development as the shares & funds have been transferred from Mike Ashley’s company to the PIF consortium.

"Just awaiting the official statement which should follow shortly.

Newcastle United believe the deal is done now the money is in the bank and the shares have been transferred to the consortium.”

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Mike Ashley has agreed to sell Newcastle United to the Saudi Arabian-backed consortium. (Photo by Catherine Ivill/Getty Images)

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