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Newcastle takeover: Saudi Arabian-backed deal is close

A Saudi Arabian takeover of Newcastle United is close to being agreed.

Approval from the Premier League could possibly come in the next 24 hours after the consortium proved the Saudi state would not have control of the club.

Instead the Public Investment Fund (PIF), which is set to provide 80% of funds for the £300m deal, will be seen as separate to the state and therefore allow the takeover to pass the Premier League owners' and directors' test.

It was believed that a resolution came because Saudi Arabia settled an alleged piracy dispute with Qatar-based broadcaster beIN Sports, which own rights to show Premier League matches in the Middle East.