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David Byrom

Newcastle United fans share takeover theory after Middle East fund invests in Leazes Terrace

Newcastle United fans are speculating over whether a recent property sale could have anything to do with the potential Saudi takeover of the club.

With talk over a potential takeover of Newcastle continuing to rumble on in the background after it initially fell through in the summer, plenty of Magpies fans are eager to find out the latest news on the potential deal.

That means the sale of student accommodation on Leazes Terrace next to St James's Park has come to fans' attention.

Union Property Services have confirmed that the Grade One listed accommodation block has now been bought by an unnamed Middle Eastern fund.

It has led to speculation from fans that it could be linked to Saudi's Public Investment Fund (PIF), who tried to purchase the club from Mike Ashley in the summer.

Union Property Services have not identified the new owners of the 315-bed student accommodation, which has previously made a stadium expansion difficult due to its listed status.

The company purchased the student accommodation from Newcastle University in 2019, embarking on a refurbishment programme that modernised the rooms to match student expectations.

It has now been sold to an unidentified Middle Eastern fund, which has proved to be a talking point among fans.

Recently, Saudi Arabia sports minister HRH Prince Abdulaziz bin Turki Al Faisal spoke about PIF's failed Newcastle bid - and confirmed that there is potential for a deal to be resurrected.

He told the BBC: "It's a shame it didn't go through but we say here that there's always a reason for things happening or not, and we look forward to better opportunities, hopefully in the future.

"Of course there was disappointment that the deal did not go through… I'm not really sure what went wrong or what the discussions were about."

He added: "I don't know what PIF's plans are, but if there's an opportunity, they'd look into it."

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