An investment fund controlled by Saudi Crown Prince Mohammed bin Salman is in talks to buy U.K. Premier League soccer team Newcastle United F.C. for around $445 million.
Why it matters: MBS has been working to diversify Saudi Arabia's investments, with a focus on sports and entertainment. The sale could give Newcastle a fresh infusion of cash for fresh talent and renovated facilities, the Wall Street Journal writes.
The state of play: The deal could finalize in the coming weeks, but there's still time for things to fall apart.
Worth noting: The team's current owner is British businessman Mike Ashley, who bought the team for about $175 million and is one of the least popular team owners in English soccer, per the Wall Street Journal.
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