The Wall Street Journal have a report out that a Saudi Sovereign-Wealth fund is in talks for a potential £340m takeover of Newcastle United.
The article is subscription only but the Northern Echo has also written a report on this news.
The buyer would be the Public Investment Fund, which is headed by Saudi Crown Prince Mohammed bin Salman. The Saudi Wealth Fund is reportedly joined by British financier Amanda Staveley who was involved in a takeover attempt of Newcastle a few years ago.
Mike Ashley has long held that a takeover will only happen quickly and behind closed doors. So this latest report seems a bit dodgy although it is being reported by three journalists with the Wall Street Journal.
This latest takeover rumor comes on the heels of Roma’s co-owner James Pallotta’s reported interest in Newcastle once he is able to sell his majority shares in the Serie A club.
However, Pallotta has recently denied any interest in purchasing Newcastle. We’ll see what comes of this latest takeover talk.