According to Football finance expert Kieran Maguire (via The Chronicle), Newcastle United owner Mike Ashley will take a serious financial hit should he decide to sell the club to American media mogul Henry Mauriss instead of Saudi Arabia’s Public Investment Fund.
The Magpies chairman has already agreed to sell the St. James’ Park outfit to PIF for £300 million, but the Premier League is yet to give the takeover the seal of approval, and Mauriss is readying a £350 million offer should the Saudis’ bid gets knocked back.
It remains to be seen if the EPL legal team will deem PIF worthy of owning Newcastle following the release of the World Trade Organization report on Saudis’ piracy, but rejecting their bid will be bad news for Ashley.