Saudi Arabia’s sovereign-wealth fund is in talks to buy Newcastle United FC, the Premier League soccer team owned by British billionaire Mike Ashley, for about £340 million ($445 million), Dow Jones reported on Saturday.
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The potential buyer is the Public Investment Fund, Crown Prince Mohammed bin Salman’s key investment vehicle, along with a group of investors led by British financier Amanda Staveley, the sources said.
Ashley, who founded Frasers Group, is a serial buyer of ailing UK high street names from House of Fraser to Evans Cycles.
He put it up for sale as early as 2008 with fans of the soccer club quickly souring on him following the departure of manager Kevin Keegan.
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