One Saudi investment fund is about to buy Newcastle Football Club from its long time owner Mike Ashley to the joy of many club’s supporters.

Newcastle’s supporters wanted Mike Ashley out of the club for quite some time, and now it’s going to happen. New documents show Ashley has entered into a charge agreement with potential buyer Amanda Staveley.

She represents a consortium of sides interested in this takeover. Reports say that she will own 10% of the club once this deal is over.

All negotiations between Ashley and investors are done, but this is just the start of the process. Premier League has received 31-page documentation about the deal. Now the league will conduct all checks needed. The most important one is the Premier League’s owners and directors test.

First rumors about this deal broke out in January, but people were suspicious. Ashley wanted to sell the club for quite some time. There were constant rumors about possible takeover of Newcastle. But it seems that now the deal will go through.

Papers have been sent to the league, and experts say that the deal could officially go through in a month.

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