Newcastle Utd £300m takeover approved

Newcastle United’s £300million takeover has been approved.

The Premier League will give the green light for Amanda Staveley’s Saudi-backed consortium to take charge of the St James’ Park club — when the transfer of funds are sorted.

SunSport understands the League’s owners and directors test found no barrier to the takeover.

Financier Staveley, who is fronting the bid, is expecting official word next week.

Then once the funds and paperwork are sorted an announcement will be made on or around June 1.

Newcastle fans want current owner Mike Ashley out after a 13-year reign that saw Toon twice relegated to the Championship.

They blame Ashley’s lack of investment — with top players sold while St James’ Park and the club training ground have also been allowed to decay.

Now the financial might of the Saudi Arabian Public Investment Fund, and billionaire British businessmen the Reuben brothers, is coming to the rescue with a target of challenging for honours.

Boss Steve Bruce said yesterday he was “in the dark” over the bid but feels he can emulate Kevin Keegan and Sir Bobby Robson by turning Newcastle into a Champions League outfit again.

Mauricio Pochettino and Rafa Benitez are both mooted as replacements but Bruce said: “If it’s good for Newcastle — and the club are going to try to compete with these teams — to be part of it would be great.

“I’d back myself, of course I would.”

read also:​Newcastle fullback claims Premier League using players as ‘lab rats’

Newcastle loanee Danny Rose said players are being treated like “lab rats” during Project Restart and Bruce added: “He could be less harsh with comments but he’s entitled to his opinion.

“If a player or staff, and had reservations, you have to respect them.”