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Newcastle United 'set for £200m cash injection if takeover goes through'

Newcastle 'set for £200m cash injection'
© Reuters
Newcastle will reportedly receive a cash injection of around £200m to spend on new players and other developments should the proposed takeover of the club go through.

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.

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Mike Ashley pictured in June 2016
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CManchester CityMan City38285594336189
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3Manchester UnitedMan Utd38236958431575
4Newcastle UnitedNewcastle381914568333571
5Liverpool381910975472867
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8Tottenham HotspurSpurs38186147063760
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11Crystal Palace381112154049-945
12Chelsea381111163847-944
13Wolverhampton WanderersWolves38118193158-2741
14West Ham UnitedWest Ham38117204255-1340
15Bournemouth38116213771-3439
16Nottingham ForestNott'm Forest38911183868-3038
17Everton38812183457-2336
18Leicester CityLeicester3897225168-1734
19Leeds UnitedLeeds38710214878-3031
RSouthampton3867253673-3725

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