Chairman of Saudi Aramco and Governor of the Public Investment Fund in Saudi Arabia Yasir Al-Rumayyan set to become Football Club Newcastle’s new chairman.
Media reports said that Newcastle United could soon have new owners, with a £300 million ($375m) takeover bid under way to take the Premier League club out of the hands of the notorious Mike Ashley.
Saudi Arabia’s Public Investment Fund (PIF), headed up by Crown Prince Mohammed bin Salman, the main mover behind the bid to purchase Newcastle United from Ashley.
If the takeover of the club goes ahead, Yasir Al-Rumayyan is in line to become Newcastle chairman.
Yorkshire native Staveley, who helped broker the purchase of Manchester City by Abu Dhabi’s Sheikh Mansour in 2008, involved in negotiations regarding the potential purchase of Newcastle for a number of years, having attempted to strike a deal with Ashley in 2017, when he initially put the club up for sale.
The plan behind the takeover is, naturally, to improve the fortunes of the club and transform Newcastle into a team that challenges for Premier League and Champions League glory, similar to that which has happened at Chelsea and Man City.