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Premier League nearing announcement on Newcastle's £300m Saudi takeover with expectation it will be approved, and sources claim it could be this week

The Premier League are nearing an announcement on the Saudi-led takeover of Newcastle with the expectation it will be approved, sources have told Sportsmail.

Those close to the process who have previously urged caution with regards timing are now saying they have been told a formal statement on the decision is close and, barring any further revelations, it could be this week.

They also believe the £300million deal is likely to go through given what they say has been an increased level of involvement by the UK government, who it is said are keen to strengthen ties with Saudi Arabia.