According to Forbes, the English Premier League has given approval to the agreed deal between Saudi Arabia’s Public Investment Fund and Mike Ashley over the sale of Newcastle United.
PIF are financing a £300 million takeover of the Saint James’ Park outfit, with 80% of the shares set to belong to them post-takeover.
David and Simon Reuben will own 10%, while Amanda Staveley, who has fronted the bid all along through PCP Capital Partners, will own the remaining 10%.
It has been almost six weeks since reports first emerged that Ashley has agreed to sell Newcastle to PIF, and fans have been left frustrated as the delay drags on.