A Saudi Arabian consortium reportedly come close to completing a takeover of Newcastle United, with an announcement set to be made on Thursday.

A Saudi Arabian consortium has reportedly come close to completing the takeover of Premier League outfit Newcastle United, with the group hopeful of an announcement on Thursday.

Such news follows an investigation from the Premier League, as the Saudi state was thought to be gaining control of the club.

According to BBC Sport, the Public Investment Fund, which is set to provide 80% of the £300m deal, is instead being treated as a separate entity to the state, allowing the takeover to go ahead.

An attempted takeover of the Magpies began 18 months ago, with a consortium fronted by Amanda Staveley, before an attempt was blocked following a piracy dispute regarding broadcaster beIN Sports.

A completed deal would see Mike Ashley's ownership of the North East club come to an end after 14 years at the helm.

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