The Saudi Arabia-led takeover of Newcastle United could be completed within the next fortnight.
The PA news agency reported on Monday that the Premier League's owners and directors test is the final hurdle to clear before the £300 million (Dh1.36 billion) deal is complete. And it is not expected that the league will intervene in the deal.
Newcastle, currently owned by UK businessman Mike Ashley, are still refusing to make any comment on the proposed takeover.
Yasir Al Rumayyan, the governor of the Saudi Arabian Public Investment Fund (PIF) which will take an 80 per cent stake in the club should the deal go through, would become chairman.
Crucially though, it is understood there will be no knee-jerk decisions regarding other senior staff either on the business or the football side, which includes manager Steve Bruce.
Managing director Lee Charnley will be leaving the club after a handover period.
Supporters can expect significant investment in the playing staff but also in other areas, though the new owners are said to be very mindful of the requirements to meet financial fair play regulations both at domestic and European level.
Current owner Ashley has been paid a non-refundable £17m deposit from the new owners, with the remaining £283m due on completion.
As well as the Saudi PIF, 10 per cent of the club will be owned by PCP Capital Partners – headed by financier Amanda Staveley – and the remaining 10 per cent by property tycoons the Reuben brothers.
Newcastle currently sit 13th in the table, eight points clear of the relegation zone, and are set to take on Manchester City in the quarter-final of the FA Cup at St James' Park when English football resumes after the coronavirus shutdown.
Meanwhile, the current Newcastle owners are believed to have delayed contract meetings for Andy Carroll and Matty Longstaff.
Tyneside newspaper The Chronicle reported on Monday that representatives of midfielder Longstaff have been told to wait for takeover news before negotiations on a contract extension can restart.
The 20-year-old's contract is up at the end of June, while striker Carroll finds himself in an even more complicated situation due to the shutdown.
Carroll, 31, needs a certain amount of appearances to automatically trigger a new deal but his contract also features a clause that allows Newcastle can agree to a one-year extension at any point.
The Mike Ashley era in pictures
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2007/08: Premier League position: 12th. FA Cup: 4th round. League Cup: 3rd round. Top scorer: Michael Owen, 13. Managers: Sam Allardyce, Nigel Pearson, Kevin Keegan. Synopsis: the first season of the Mike Ashley era sees the new owner sack Allardyce and, much to the delight of fans, bring back Kevin Keegan for his second spell as manager. An unbeaten seven-game run in March/April secures the club's top-flight status. But cracks were already appearing between Keegan and Ashley over the club's direction. Getty -
2008/09: PL position: 18th, relegated. FA Cup: 4th round. League Cup: 3rd round. Top scorer: Michael Owen, 10. Managers: Kevin Keegan, Chris Hughton, Joe Kinnear, Alan Shearer. Synopsis: complete chaos all season. Keegan walks out in September due to club's transfer policy and would later win £2 million in damages from the club after winning a case for constructive dismissal. Kinnear is brought in as a temporary measure but is forced to leave due to heart problems in February. After Hughton's second stint as caretaker, Alan Shearer is appointed for last eight games. But even the club's record goalscorer cannot rescue dire situation and Newcastle are relegated. They won just seven out of 38 games and Ashley puts club up for sale during a catastrophic campaign. -
2009/10: Championship position: 1st, champions. FA Cup: 4th round. League Cup 3rd round. Top scorer: Andy Carroll, 19. Manager: Chris Hughton. Promotion sealed at the first time of asking under the likeable Hughton. The team finishes with 102 points - 11 clear of West Bromwich Albion, losing only four games all season. -
2010/11: Premier League position: 12th. FA Cup: 3rd round. League Cup: 4th round. Top scorer: Kevin Nolan, 12. Managers: Chris Hughton, Alan Pardew. Synopsis: Hughton is sacked in December, despite the team sitting comfortably in mid-table, after securing impressive wins over Aston Villa, Arsenal and local rivals Sunderland. Pardew, whose last job was at then third-tier club Southampton, is the surprise replacement. Local hero and top scorer Andy Carroll is sold to Liverpool despite Pardew saying he was not for sale. Getty -
2011/12: PL position: 5th. FA Cup: 4th round. League Cup: 4th round. Top scorer: Demba Ba, 16. Manager: Alan Pardew. Synopsis: the most successful season of Ashley's reign after the team secured a top-five finish and a place in the Europa League. The likes of Ba, Yohan Cabaye and Papiss Cisse prove quality signings and Pardew wins Manager of the Year award. Ashley, though, still manages to enrage the fans by renaming Newcastle's St James' Park ground the Sports Direct Arena, after his sportswear company. Getty -
2012/13: PL position: 16th. FA Cup: 3rd round. League Cup: 3rd round. Europa League: quarter-finals. Top scorer: Demba Ba and Papiss Cisse, 13. Manager: Alan Pardew. Synopsis: Pardew signs eight-year contract, as team enjoys decent run in Europa League that is ended against Benfica in the last eight. League form is disastrous, though. Key striker Ba sold in January after Chelsea trigger £7 million release clause. Forced into January panic buying to try and secure top-flight status as French players Mathieu Debuchy, Mapou Yanga-Mbiwa, Moussa Sissoko, Yoan Gouffran and Massadio Haidara all join with varying degrees of success. Getty -
2013/14: PL position: 10th. FA Cup: 3rd round. League Cup: 4th round. Top scorer: Loic Remy, 14. Manager: Alan Pardew. Synopsis: controversial pay-day money lenders Wonga take over as shirt sponsors as, to widespread disbelief, Joe Kinnear returns to the club as director of football. Team is reliant on the goals of on-loan striker Remy as no money is spent on new signings after the previous campaign's expenditure. Fan unrest against Pardew grows. Getty -
2014/15: PL position: 15th. FA Cup: 3rd round. League Cup: 5th round. Top scorer: Papiss Cisse, 11. Synopsis: Pardew, who had lost backing of the fans, leaves job to take over at Crystal Palace in new year. His Tyneside-born assistant, John Carver, takes over dream job. It does not go well as the team goes on miserable run of eight straight defeats and only secure their top-flight survival after beating West Ham 2-0 on the final day. Getty -
2015/16: PL position: 18th, relegated. FA Cup: 3rd round. League Cup: 3rd round. Top scorer: Georginio Wijnaldum, 11. Managers: Steve McClaren, Rafa Benitez. Synopsis: former England manager McClaren proves a disastrous appointment as the club slump to the foot of the table and he is sacked in March. Champions League-winning manager Benitez is brought in with 10 games to go. Despite three wins and three draws in their last six games, the team are relegated for the second time under Ashley. Getty -
2016/17: Championship position: 1st, champions. FA Cup: 5th round. League Cup: 4th round. Top scorer: Dwight Gayle, 23. Manager: Rafa Benitez. Synopsis: the vociferous support of fans helps persuade Benitez to stay on in the second tier. Once again, promotion was sealed at the first time of asking. Magpies edge out Brighton to title on final day of the season after beating Barnsley 3-0 in front of a bouncing St James' Park and the Seagulls concede a late goal to draw with Aston Villa. Getty -
2017/18: Premier League position: 10th. FA Cup 4th round. League Cup: 2nd round. Top scorer: Ayoze Perez, 10. Manager: Rafa Benitez. Synopsis: Supremely organised and hard to beat under their Spanish manager, Newcastle finish in the top half of the table, despite a run of one win in 10 matches at the end of 2017. The season ends with a superb 3-0 win over Chelsea as Ashley released a statement thanking Benitez for his "magnificent achievement". The former Valencia, Liverpool and Real Madrid manager agrees to remain for another season. Getty -
2018/19: PL position: 13th. FA Cup: 4th round. League Cup 3rd round. Top scorer: Ayoze Perez, 13. Manager: Rafa Benitez. Synopsis: Another mid-table finish as the goals of Perez and loan signing Solomon Rondon help steer the club away from relegation. Despite the club-record £21m signing of Paraguayan attacker Miguel Almiron in January, and the unwavering backing of the fans, Benitez grows increasingly frustrated at what he perceives as club's lack of ambition. A 4-0 win at Fulham on the last day of the season proves his last match in charge as heads for a new, lucrative job in China. PA -
2019/20: PL position before league suspended due to coronavirus: 13th. FA Cup: quarter-finals. League Cup: 2nd round. Manager: Steve Bruce. Synopsis: Fan fury over the exit of Rafa Benitez and apathy at the appointment of Steve Bruce, who leaves second-tier Sheffield Wednesday to take over at his boyhood team, is clear as attendances drop to their lowest for eight years. The club transfer record is smashed again when they pay £40m for striker Joelinton, who goes on to score one goal in 25 games. Newcastle reach their first FA Cup quarter-final since 2006 before the season is suspended due to coronavirus. News emerges in April that Ashley is close to selling club for around £300m to a Saudi Arabia-backed consortium. Getty
