A Saudi Arabian takeover of Newcastle United remains on course.

The Telegraph says Newcastle's £340m takeover could be completed within months.

The Premier League has long been the subject of speculation since controversial Mike Ashley announced he was willing to sell.

And a bid from a Saudi Arabian consortium could be pushed through before the summer.

The report claims the Public Investment Fund would own 80 per cent of the club with a further 10 per cent belonging to Amanda Staveley's PCP Capital and the final shares acquired by Reuben Brothers which owns Newcastle racecourse.

The Premier League are understood to have been contacted about the bid and will now make the necessary checks to ensure funding is in place.