The potential Newcastle United 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) – have done their part, and they are waiting for Premier League’s approval.
According to reports from the Independent, the takeover is expected to be completed and formally announced by 1 May. The potential owners have already agreed to buy Newcastle from Mike Ashley for a fee of £300m. They have already paid £17m, which is nonrefundable, and the remaining will be paid once the Premier League given the official confirmation.