Newcastle United Ownership To Be Takeover By Saudi Investment Group

Newcastle United soon will be welcoming the Saudis as its new owner as the country's Crown Prince Mohammed bin Salman is reportedly in talks with the club for a takeover.

Mike Ashley, who is the club's current owner, is understood to be interested in giving up his stake in the club and has been linked to a number of interested buyers including American boxer Floyd Mayweather but the Saudis are poised to seal a buyout deal.

Mayweather's financial capability to own a football was queried by those who think he is not rich enough to own a Premier League club and the American responded with loads of stash of cash on a table, as evidence that he has what it takes to own and run the club successfully.

The club comes at what can be considered as a good price at £340 million for a takeover which the Premier League chiefs reportedly have been informed about.

Ashely reportedly is leaving completely without a stake accrued to him whilst the Saudis will share a 90 percent stake with Dubai-based financiers Staveley, who will have a 10 percent stake in the takeover.

Also in the team is the billionaire brothers David and Simone Reuben, who are the owners of Newcastle race court. They will have the remaining 10 percent left in the total stake.

As it is, Mayweather does not seem to stand a chance in the race unlike other candidates, all of whom are worth multiples of billions of dollars - the Reuben family is worth over $20 billion and the Saudi Crown Prince on his own is worth £3 billion.