A deal in the region of £300 million has been agreed between Mike Ashley and the Newcastle potential owners. A part-payment of £17 million has been paid already, which is non-refundable, while the remaining part will be paid once they get the green signal from the Premier League.
The would-be new owners – Amanda Staveley’s consortium — comprising her company PCP Capital Partners (10 per cent), the billionaire Reuben brothers (10 per cent) and the 80 per cent majority stakeholding of Saudi Arabia’s Public Investment Fund (PIF) – are waiting for the Premier League to approve the deal.