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Saudi tycoon buys a premier League club

The £300m takeover of Newcastle United has officially been completed with a Saudi led consortium ending Mike Ashley's 14 year ownership of the club.

The Premier League confirmed the takeover in a statement on Thursday, saying it had received "legally binding assurances" that the Kingdom of Saudi Arabia will not control Newcastle United.

The takeover sees Saudi Arabia's Public Investment Fund take controlling 80 percent stake and end Mike Ashley's controversial 14 year ownership of the club also manager Steve Bruce is expected to be replaced. Newcastle are next in action against Spurs on Oct 17.

This is surely a game changer for this specific club but it remains to be seen if this will be enough to trigger a good performance. What do you think about this move. Do you think it change their league ratings.

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