Newcastle the subject of a £340m takeover bid from Saudi Arabia's Crown Prince

Newcastle United are in talks with Saudi Arabia’s Crown Prince Mohammed bin Salman to complete a £340m takeover.

Mike Ashley has owned the Magpies since 2007 after the buying the club outright and his ownership has been heavily scrutinised by supporters for years.

According to the Wall Street Journal, a deal could be completed within days, but there is still a risk of it collapsing.

Should it go through, the Public Investment Fund would pump a serious amount of money into Steve Bruce’s side, similar to Manchester City’s takeover in 2008.

The upcoming summer transfer window could be the biggest in the club’s history if the deal goes through.

But as Newcastle supporters will know, nothing is certain with Ashley at the helm.

The club were the subject of a takeover bid from Sheikh Khaled bin Zayed Al Nahyan and Midhat Kidwai last year, but the deal fell through at the last minute despite the pair providing proof of funds.

Amanda Staveley, who is backed by PCP Capital Partners, also saw a bid rejected in 2017.

So until the proposed takeover from Bin Salman is confirmed and announced by the club, fans will be waiting anxiously.

Ashley’s reign as owner has been typified by mass protests at St James’ Park and they have continued this season.

He may have splashed some cash to bring in Miguel Almiron and Joelinton in recent transfer windows, but that has done little to quash the moans and groans from the Newcastle faithful.

But with Bruce all but certain to keep the club in the Premier League this season and the idea of prosperous transfer windows to come, the future is beginning to look a lot brighter for the Toon Army.

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