Newcastle United will reportedly be set for a £200m cash injection from their new owners should their takeover of the club be ratified.

A Saudi-funded consortium, fronted by Amanda Staveley, is understood to have agreed terms with owner Mike Ashley to buy the club in a deal worth a reported £350m.

The Premier League is now considering the proposal and carrying out background checks on the prospective new owners, which includes them having to submit detailed financial plans following their takeover of the club.

The Mirror reports that the Saudis are planning a series of three-yearly cash injections, with the first of those arriving soon after the takeover is completed.

Around £200m will reportedly be made available to build the foundations of the club over the next few years, which includes funds for new players as well as redeveloping the training ground, academy and internal workings.

The owners would then invest another large sum depending on the progress of the Magpies, in the hope that they will eventually develop into Champions League contenders.

However, the Premier League has been warned against letting the proposed takeover go through due to concerns over Saudi Arabia's human rights record.