The English Premier League has officially confirmed the £305 million purchase of Newcastle United by the Saudi Arabian fund led by Crown Prince Mohammed bin Salman, ending the 14-year ownership of Mike Ashley. The consortium, including the Public Investment Fund of the Government of Saudi Arabia (PIF) – gained control of 80% of the club’s shares, PCP Capital Partners and RB Sports & Media (10% each), became the new owners of the club. Aside from investing in the local community by creating Newcastle-related jobs in Saudi Arabia, the consortium intends to emphasize “improving the ‘quality of life” in the region.
What are Newcastle’s plans?
Newcastle is starting a new chapter in their history, despite the displeasure of the rest of the Premier League.
“Newcastle United deserves to be top of the Premier League. We want to get there. It will take time, but we will get there,” said Amanda Staveley, the chief executive of PCP Capital Partners, to Sky Sports News.
“We’re really excited about strengthening the squad, but we have to work within Financial Fair Play and make sure this is done over a longer-term. But you can know and be reassured that we want to invest at every level. We want to get the best squad we possibly can.”
Current coaches connected to the Newcastle job are former Real Madrid boss Zinedine Zidane, Brendan Rodgers, Rafa Benitez, Antonio Conte, and Steven Gerrard. The choice is worth a bet, especially with a bonus for new players at bet365.
Many changes are planned for St James’ Park, and Newcastle fans realize and appreciate that patience will be required. Nevertheless, a great name is necessary to come in January to jumpstart the process. According to the Mirror, Newcastle’s new resources will turn them into significant contenders, as it did with Manchester City.
The opinions of other managers
“Looks like the Newcastle fans I saw were happy. It’s business, people took over a club, and the people of Newcastle are happy. I’m far away from why the decision was made,” said Manchester City manager Pep Guardiola.
“Newcastle is guaranteed to play a dominant role in world football for the next 20 or 30 years,” says Liverpool manager Jurgen Klopp.
“It seems we have a new competitor for titles and places. This is what we are up for,” noticed Chelsea manager Thomas Tuchel.
“Long term, it’s going to be interesting to watch, and it has been the talk of football the last few weeks, and that’s what they want in the end. I don’t want to join in that political discussion,” stated Manchester United manager Ole Gunnar Solskjaer.