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Saudi Arabia's Sovereign Wealth Fund in talks to buy Newcastle

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The next few days will be critical in determining whether Saudi Arabia's Sovereign Wealth Fund is successful in buying Newcastle United, says Sky Sports News' north-east reporter Keith Downie

Saudi Arabia's Sovereign Wealth Fund are in talks to buy Newcastle United, Sky Sports News can confirm.

But Sky Sports News understands the Saudi Sovereign Wealth Fund are not the only group interested in completing a takeover of the club.

Newcastle have been contacted by Sky Sports News, but are making no comment at this stage.

The interest of the Saudi Sovereign Wealth Fund was first reported by the Wall Street Journal on Saturday morning and it claims Prince Mohammed bin Salman will team up with British financier Amanda Staveley.

Negotiations between Mike Ashley and Amanda Staveley's PCP partners broke down earlier this year
Image: Amanda Staveley has previously failed in her attempts to buy Newcastle

Staveley was unsuccessful in her attempts to buy Newcastle two years ago following lengthy negotiations.

Ashley, who is currently out of the country, has been in control at St James' Park since purchasing a majority stake in the club in 2007 and is understood to want around £340m to sell.

Mike Ashley attended Saturday's defeat to Leicester
Image: Current owner Mike Ashley wants around £340m to sell Newcastle

He has previously been irked that would-be buyers have attempted to do their business through the media.

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Newcastle have been twice relegated from the Premier League during Ashley's 13-year reign, with supporters protesting on numerous occasions against his ownership.

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