Saudi-backed £300m Newcastle United takeover set to go through after piracy row settlement

The Saudi Arabia Public Investment Fund (PIF) are expected to make an official bid to take over Newcastle United for £300m.

This comes after all forms of Premier League matches piracy was removed following the lifting of a ban on BeIn Sports in the Gulf Country.

Newcastle United were set to be taken over by the Public Investment Fund – owned by the Crown Prince of Saudi Arabia Mohammed bin Salman – last year before the piracy issue stalled it.

Now that it’s been resolved, the Saudi Arabian group are expected to make a huge bid of £300m to buy the club from current owner Mike Ashley.

The Public Investment Fund is Saudi Arabia’s sovereign wealth fund with a value of $500bn (£368bn), which is why Newcastle fans are excited about a takeover going through.