Premier League to announce £300m Newcastle takeover by Saudi investors this week: Reports

The Premier League is reportedly set to announce the £300 million ($370 million) Newcastle takeover deal led by the Saudi Arabia-back Public Investment Fund this month. The concerned parties have been negotiating the Newcastle takeover deal for the past three months. Initially, attempts were made to stall the Public Investment Fund's entry into the Premier League citing piracy issues. However, it now appears that a deal is nearly done.

Also Read | Saudi Arabia moving for Premier League TV rights to ensure £300m Newcastle United takeover

UK Government keen on Newcastle takeover

Several British media reports suggest that an official announcement pertaining to the Newcastle takeover deal by the Saudi Arabia Crown Prince Mohamed bin Salman's Public Investment Fund is scheduled to be announced anytime this week. Despite initial setbacks, the £300 million deal is set to materialise, according to a number of reports. The government of the UK has been monitoring the matter in what is reportedly an attempt to strengthen ties with Saudi Arabia. 

On the other hand, the authorities in Saudi Arabia have clamped down on broadcast piracy of Premier League games. The Saudi Authority for Intellectual Property has announced that it will shut down all websites that are involved in the illegal streaming of football matches in the country. Meanwhile, the Saudi Arabian Football Association has also informed the Premier League that it will take responsibility to fight piracy in the country. 

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Premier League broadcasters protest against Newcastle takeover

The Premier League's Middle East broadcasters beIN Sports had protested against the Newcastle takeover deal involving Saudi Arabia. The Qatari-owned company blamed the members of the consortium for their alleged involvement in the illegal broadcast of Premier League games in Saudi Arabia. However, with the clampdown, a deal is likely to be completed soon. The Public Investment Fund is set to hold an 80 percent stake in the club, while UK-based businesswoman Amanda Staveley and the Reuben Brothers will each hold a 10 percent stake in Newcastle United. 

Also Read | Premier League gives green light for Newcastle's £300 million Saudi takeover: Report

Several top players linked with Newcastle United as takeover edges closer

With the Newcastle takeover on the verge of completion, several players have been linked with the Magpies. Reports suggest that the new owners will invest heftily and a squad overhaul is expected for next season. The likes of Real Madrid superstar Gareth Bale, Bayern Munich midfielder Philippe Coutinho and former Tottenham manager Mauricio Pochettino are all being linked with a move to St James' Park. 

Also Read | Newcastle United the next Man City? Shay Given says it's possible if takeover goes through

Image Courtesy: Newcastle United Twitter