Newcastle ‘in takeover talks’ with Saudi Arabia’s sovereign-wealth fund

Saudi Arabia's sovereign-wealth fund is reportedly in talks withNewcastle United over a £340million takeover of the club.

According tothe Wall Street Journal, the Public Investment Fund is in talkswith a group of investors organised by British financier Amanda Staveley.

It is claimeda final deal could be days or weeks away, although talks are at a stage wherethey could still breakdown.

Controversialowner Mike Ashley is looking to sell the club he purchased for £134million backin 2007, whilst Saudi Arabia is focusing on sport and entertainment as part ofPrince Mohammed's plans for economic reform of the country.

Such a takeover could mean a major cash injection for the club,who currently sit 14th in the Premier League table under Steve Bruce.

Ashleyinitially placed the club up for sale in October 2017, with a number of interestedparties registering an interest in the club.