According to latest reports from The Times, the Saudi-led consortium has moved a step closer to buying Newcastle United.

The report claims that the Saudis have clinched a deal with the Magpies for a fee in the region of £300 million.

In fact, Newcastle United owner Mike Ashley was forced to drop his asking price by £40m due to the Coronavirus pandemic.

The report claims that the deal to buy Newcastle United from Ashley is done. It is now simply subject to Premier League approval.

All the relevant paper works have been signed, and a part of the deal has been paid as well. The remaining half will be paid once the Premier League approves the change of ownership.

Many Newcastle United fans have taken to social networking site Twitter after the reports broke out. Here are some of the selected tweets:

Christ alive man. Can almost feel it. pic.twitter.com/gIXLMW7EA2

— Taylor Payne (@TaylorandPayne) April 20, 2020

https://twitter.com/BenChar60671210/status/1252046264759394305s=20

https://twitter.com/downt0wn/status/1252046551418986496s=20

it makes it sound like the pl checks have just started and the 3 weeks begins, very confusing

— PF (@pardewfan) April 20, 2020

They need to catch up