Newcastle hero Alan Shearer reacts as £300m takeover of beloved club confirmed

Newcastle United legend Alan Shearer has reacted to the £300million takeover of his beloved club by the Saudi Arabian Public Investment Fund.

The takeover was confirmed on Thursday evening after a long period of negotiations and discussions, bringing to an end the controversial tenure of Mike Ashley.

The deal makes Newcastle the richest club in world football with their new owners having a wealth of over £300billion, dwarfing that of next richest Premier League outfit Manchester City.

Fans flocked to St. James' Park to celebrate the takeover and Shearer joined them in jubilance as Ashley's reign as owner of the Magpies came to an end.

Shearer took to Twitter after the takeover was announced to write: "Yesssssssss. We can dare to hope again," followed by three clapping emojis.

During Ashley's 14 years at the club, Newcastle were twice relegated from the Premier League, failed to win a trophy and played in Europe just once.

Fans have grown increasingly unhappy with Ashley's ownership over time with consistent calls for the Sports Direct owner to sell the club.

Shearer had worked under Ashley as the club's interim manager at the end of the 2008/09 season but was unable to keep the club in the top flight.

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The Newcastle-born former England striker remains a fan of the club to this day and is also the Magpies' all-time top scorer having netted 206 times in 404 appearances.

Shearer's tweet was commented on by Mehrdad Ghodoussi, who works for PCP Capital Partners who have also purchased a stake as part of the deal.

Ghodoussi is also the husband of Amanda Staveley, who has been crucial in brokering the deal to take ownership of the club.

Commenting on Shearer's tweet, Ghodoussi wrote: "Yes we can", along with a praying emoji.

The takeover of Newcastle by the Saudi-led consortium had originally been blocked by the Premier League over concerns that the club would be controlled by the Kingdom of Saudi Arabia.

There was also an alleged piracy dispute involving the Qatari-owned broadcasters, beIN Sports, which was resolved on Wednesday after months of talks.

The Premier League were also satisfied that the club will be controlled by the other stakeholders in the deal and approved the takeover in a statement on Thursday.

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