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Reports: Billionaire Close To EPL Club Takeover

One of the Premier League's most historical clubs is close to being bought over by a billionaire and his business partners for £300 million, a move that could make the team a force to be reckoned with once again.

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According to the Daily Express, Newcastle United owner Mike Ashley is close to selling the club for £300 million (R7 billion) to Saudi Crown Prince Mohammed bin Salman, Amanda Staveley and the Reuben Brothers.

Fans of the Magpies have, for a long time, been frustrated with Ashley and the general running of the club and most, if not all, are believed to welcome these takeover talks.

Reports in England suggest that discussions have sped up in recent days, with it being claimed a 31-page charge agreement has been lodged, which lays the groundwork for a deal to be completed.

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It is also reported that the Premier League have been informed of the potential deal, and have started the process of carrying out the necessary checks under its owners and directors test.

Staveley, a British businesswoman who is known to have connections with Middle Eastern investors, first tried to buy Newcastle in 2018, but could now be nearing her desired 10% stake in the club.

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Having formed in 1892, Newcastle is one of the oldest sides in Premier League history, but have not won a league title since 1927, finishing as runners-up in both the 1995/96 and 1996/97 campaigns.

Are you excited to see where economic power could take Newcastle United if the deal is concluded? Let us know in the comments section below.

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