NEWCASLTE United are expected announce the takeover of the club by Saudi Arabia's Public Investment Fund today in what will be a historic day for the club. 

All parties involving the club, the Premier League and the Saudi led consortium worked around the clock yesterday to push through the terms of the takeover in what is expected to cost around £370 million.

News began to circulate of an impending takeover yesterday when Saudi Arabia indicated it would lift its ban on broadcaster beIN SPORTS.

The broadcaster is also understood to have been approached by Saudi Arabia to settle its one billion dollar (almost £736million) arbitration case.

The consortium withdrew after the Premier League identified the Saudi stake as a director with control over the club, which would have made it subject to the league’s owners’ and directors’ test as part of the takeover process.

However, following a lifting of the ban, the takeover has accelerated overnight with the Saudi PIF set to take an 80% stake in the club. 

The takeover would also bring en aned to Mike Ashley's 14 year stay as the owner of Newcastle in what has transpired to be a toxic and turbulent reign at the club with fans overwhelmingly happy to see a new ownership take over. 

The news is expected to be confirmed by today but there has been no official word on when there will be an expected announcement.