According to The Sun, Saudi Arabia’s Public Investment Funds have passed the Premier League’s Directors’ and Owners’ test and have been given the green light to complete their £300 million takeover of Newcastle United. Transferring of funds to Magpies owner Mike Ashley is the only thing left to be sorted, and an official announcement is expected to be made on or around June 1. PIF deposited a nonrefundable £17 million through financier Amanda Staveley’s PCP Capital last month as they were confident of getting the deal over the line, and they will now part with the remainder soon.
Report: Newcastle United takeover given go-ahead as Premier League approves Public Investment Fund’s £300 million deal
