Owner Mike Ashley reportedly set to sell Newcastle United

Newcastle United could be under new ownership whenever the Premier League resumes play amid the coronavirus pandemic. 

On Tuesday, the Financial Times reported that Mike Ashley has come to terms on the sale of Newcastle to a Saudi Arabia investment group. The Times says that Saudi Arabia’s Public Investment Fund intends to fund 80 percent of the purchase, said to be a nearly $380 million deal. British financier Amanda Staveley is funding 10 percent of the deal. 

According to Sky Sports, Staveley is expected to take a significant role in running the Premier League side. Staveley's PCP Partners nearly bought Newcastle from Ashley roughly three years ago. 

Per multiple reports, it could take a month before the sale is finalized by all necessary parties. On Monday, ESPN's Mark Ogden reported the Premier League and other English competitions wish to return on June 6. Matches likely will be played behind closed doors. 

Ashley's relationship with Newcastle supporters was frequently on rocky ground. The club was last relegated in May 2016 but won promotion back to the English top-flight league the following spring. Manager Rafael Benitez hit out at the Newcastle board in a piece he wrote for The Athletic after he left the club following the 2018-19 season.

"Newcastle’s board had a year to sort out my contract but, when we met after the end of last season, they didn’t make me a proper offer," Benitez claimed. "They told me they didn’t want to invest in the academy or the training ground – if they like, I can explain the reason why Mike Ashley refused to do that."

Benitez added: "After three years of unfulfilled promises, I didn’t trust them."

When the Premier League halted play due to the coronavirus outbreak in March, Newcastle were 13th in the table and eight points clear of the relegation zone.