A group of investors led by the Saudi sovereign wealth fund has agreed to buy the Newcastle United football club, which plays in the English Premier League.

According to the Financial Times, the transaction amount is 300 million pounds..

According to the source, 80% of the total amount will be paid by the Saudi Public Investment Fund, the remaining 20% \u200b\u200bin equal proportions will be allocated by PCP Capital Partners Amanda Staveley and brothers David and Simon Ruben.

Now the club is owned by businessman Mike Ashley.

The deal has yet to go through the approval of the Premier League, which may take several weeks.

As the newspaper notes, the financial crisis caused by the coronavirus pandemic did not drastically affect the price of the transaction - in January, an amount of about 350 million pounds was discussed.

English Premier League suspended now due to pandemic. After 29 rounds, the Newcastle submarine takes 13th place in the standings.