'Legal binding agreement' – Pundit claims Newcastle United Saudi Arabian takeover deal detail

Saudi Arabia's Crown Prince Mohammed bin Salman attends a meeting with the US secretary of state in Jeddah, Saudi Arabia, on September 18, 2019.

TalkSPORT presenter Jim White has claimed Amanda Staveley’s Saudi Arabian-backed takeover has reached ‘the point of no return’.

Speaking on his regular show, flanked by former England winger Trevor Sinclair and Natalie Sawyer, White claimed the PCP Capital Partners bid is a ‘done deal’ and owner Mike Ashley will be paid less than £300million up front, but in cash.

“Both parties exchanged last week, it was all kept very quiet. There is a legal binding agreement in place now,” said Sky Sports presenter White.

“It looks increasingly likely that Mike Ashley’s tenure is coming to an end.”

White, who claimed in February a deal could be done within 72 hours, continued: “My understanding is that Ashley will receive the £300m as a lump sum.

“A five per cent deposit has already been put done. Things are much further down the line that it’s been indicated.”

Ex-Manchester City, West Ham United and Queens Park Rangers wideman Sinclair believes the St James’s Park will become a very special place to visit once again, should the deal go through.

“Anyone who played at that time or went to St James’s Park back then will know Newcastle is a very special place. It was rocking back then and can be again. I am very excited for Newcastle fans,” he said.

“The most important thing is reuniting the club and the fans. It is bloodline.

“Will Steve Bruce and Clem (Stephen Clemence) be kept on? Proper football people going in will do that. I think they deserve to be given the chance.”

White, as reported elsewhere, says the deal is now in the hands of the powers that be.

He said: “This is so far down the line there is no turning back. Deposit paid, just under £300million reflecting the uncertainty now all the Premier League must do is tick that box. The deal is done.”

Co-presenter Sawyer believes the sky is the limit on Tyneside for the Saudis.

“The potential at Newcastle is astronomic – I am not even sure you can quantify it. You are in dreamland if you are a Newcastle fan. Fans would be supportive of any takeover due to the relationship with Mike Ashley,” she said.