A Saudi Arabian-backed takeover of Newcastle United has been completed.
The Premier League has approved the takeover after receiving “legally binding assurances” that the Saudi state would not control the club.
Instead, the Public Investment Fund (PIF), which will provide 80% of funds for the £300m deal, is seen as separate to the state.
Because of that, the takeover has passed the Premier League owners’ and directors’ test.
More to follow.
