The English Premier League has been put to test with a £300m Newcastle United takeover deal. A policy was put in place back in 2017 to conduct the background check of potential club buyers and bar them from buying any club in Premier League if they are found guilty of any criminal offense whether in the United Kingdom or their home country. Also, the buyer must pass certain financial clearance before being able to purchase a premier league club.
In the past, there has been speculation that Newcastle United is for sale after a Saudi Arabian Public Investment Fund led by the crown prince Mohammad bin Salman showed their interest with a bid worth about £300 million. If Newcastle is sold, this will end the 13-year reign of current owner Mike Ashley. The prospective owners are currently facing the Premier League takeover test to ensure that the club will be sold to the owner with no criminal records.
Newcastle United Price
How much did Mike Ashley buy Newcastle? Newcastle’s current owner is Mike Ashley. He bought the club in the year 2007, and he became the majority owner with a 41.6 % stake in the football club for a total buying price of £55,342,223. Mike Ashely closed the transaction through his company St James Holding Limited.
Meanwhile, the group’s leader financier Amanda Staveley has given the legal framework for the Saudi Arabia investors to take over the English club with a deal worth £300 million. Amanda Staveley is one of the most prominent figures in the Eastern Financial Circles, she played a significant role in assisting Abu Dhabi billionaire Sheikh Mansour to acquire Manchester City in 2008.
Newcastle United might experience a dramatic turn around should the Saudi Arabia investors succeed in buying the English club. The Saudi Arabia Public Investment Fund is worth about £250.86bn, this literally means that Newcastle United might skyrocket to become a great club in England and Europe at large. As a matter of fact, there is no doubt that hundreds of Newscastle United fans are already anticipating a new owner.
In no time, Newscastle United might witness the type of turn around that Etihad club Manchester City witnessed after it was bought by Abu Dhabi billionaire Sheikh Mansour in 2008. However, all hands are on deck as the English Premier League has the final order due to the new takeover test policy that was established in 2017.