Saudi wealth fund in talks to buy Newcastle United for 340 mln stg - WSJ

Saudi Arabia's sovereign wealth fund is in talks to buy English soccer team Newcastle United for about 340 million pounds ($447 million), the Wall Street Journal reported on Saturday, citing people familiar with the discussions.

The Public Investment Fund, together with a group of investors organized by British financier Amanda Staveley, is in discussions to buy the Premier League club and the deal could be days or weeks away, the newspaper said.

The tentative deal could still break down, the WSJ added. ($1 = 0.7608 pounds)