Share

Premier League approve €300m Newcastle takeover deal

The Premier League has reportedly approved the Saudi-backed €300 million takeover deal of Newcastle United with an announcement expected to be made around 1 June.

The Public Investment Fund of Saudi Arabia - led by Crown Prince Mohammed bin Salman - is believed to be close to completing an 80% stake in the club, according to The Sun.

The bid is believed to have passed the league's safe and proper persons' test with the last details set to be completed before an announcement is made.

The takeover has been highly criticised due to Saudi Arabia's human rights transgressions with the fiancee of murdered dissident journalist Jamal Khashoggi warning that the takeover would "tarnish" the reputation of the competition.

Khashoggi, a Washington Post contributor and US resident, was killed in 2018 while at Saudi Arabia's consulate in Istanbul to obtain paperwork ahead of his wedding to Hatice Cengiz.

Meanwhile, Arsene Wenger believes that UEFA Financial Fair Play Regulations must be more flexible to facilitate investment in smaller Premier League clubs, such as Newcastle.

Wenger feels that "emerging clubs", as Newcastle would be with added investment, should be permitted to spend and challenge the established European elite.

"I am in favour of measures that reinforce checks around club management, over measures that restrict and limit," he told L'Equipe.

"We should value quality management and encourage it.

- Compiled by Baden Gillion

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Voting Booth
Should Siya Kolisi keep the captaincy as the Springboks build towards their World Cup title defence in 2027?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes! Siya will only be 36 at the next World Cup. He can make it!
25% - 1273 votes
No! I think the smart thing to do is start again with a younger skipper ...
29% - 1472 votes
I'd keep Siya captain for now, but look to have someone else for 2027.
45% - 2251 votes
Vote
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE