Shock new twist in £300m Newcastle United takeover

The Saudi Arabian Public Investment Fund – along with Amanda Staveley and the Reuben Brothers – remain on course to purchase the club from Mike Ashley, with a £300million deal currently being evaluated by the Premier League before it is given the green light.

But the Daily Mirror now claim that there is a rival bid waiting in the wings if the current takeover fails to transpire.

The rival bid is led by American Henry Mauriss, who made his money in the media business, and is said to be worth £350million.

According to the report, Mauriss has been negotiating with Ashley since 2019 – but his bid has been placed on the back burner with the PIF offer very much the front-runner.

A source close to Mauriss told the Mirror: “He’s a charitable and honourable man – and is desperate to become Newcastle’s new owner. It’s a genuine bid.

“He’s a successful player in the media world in America and has a big interest in English football.”

Mauriss has yet to foray into the sporting world and, given the advanced stage of the PIF bid, it seems unlikely his approach for Newcastle United will come to fruition.

Reports earlier this week suggested that the current offer on the table – which would see PIF take an 80 per cent stake in the club – could be approved within a fortnight.