Newcastle United have not won a major trophy since the 1955 FA Cup. The club have had a long barren stretch seeing more relegations than title fights. The days of not competing for regular Premier League honours could be a thing of the past, however. The Magpies are on the verge of becoming the richest club in the Premier League as an ownership group led by the Saudi royal family prepares to takeover at St. James’ Park.
Newcastle United supporters are anticipating the return of the Premier League season and the Magpies final set of fixtures. Supporters can use the WAB Brazil code to get a bet bonus when the Magpies return to the pitch and get all the latest news of what is currently happening in Mexico.
A new beginning on Tyneside
The club’s current owner, the much-maligned Mike Ashley, has been on the lookout for a potential buyer for some time. He may have found one and that potential buyer is worth £240 billion, a figure that has left many on Tyneside giddy with excitement.
The cost of the takeover is believed to be £300m, a drop in the bucket for the Saudi crown prince Mohammad bin Salman. The prince’s Saudi Public Investment Fund (PIF) is backing PCP Capital Partners in negotiations for the club’s purchase. Head negotiator Amanda Staveley was the individual who sealed Sheik Mansour’s purchase of Manchester City and is likely to do the same for Prince Salman.
For her work, she will gain 10% of the Magpies while British property gurus the Reuben Brothers will also gain 10%. The deal is nearing completion as a deposit has already been made. Unless something dramatic happens, it looks likely that Newcastle United will go into the summer transfer window seeking talent to purchase with their incredible wealth.
But turning the club into a title winner isn’t easy. Sure, Manchester City have become one of the best teams in the world thanks to the investment from Sheik Mansour, however, the club have broken UEFA Financial Fair Play rules to do it. Next season could see the club finally punished for usurping rules with creative bookkeeping and banned from the UEFA Champions League.
Can Newcastle United emulate Manchester City?
Like Manchester City when Sheik Mansour took over, Newcastle United are in desperate need of upgrades in all areas. Manager Steve Bruce has proven himself to be a good EFL Championship coach rather than a Premier League winner. He is expected to be sacked with former Newcastle United coach Rafael Benitez taking charge once more. Leading sportsbooks have stopped taking bets on former Juventus coach Massimiliano Allegri being hired.
Money doesn’t always equal success and Spanish club Malaga are one club that can attest to Middle East royalty not being helpful. In 2010, Abdullah ben Nasser Al Thani, a member of the Qatari royal family bought Malaga and made promises to turn the club into a world power.
After initial investment and the club becoming an exciting team on both the domestic and European front, Al Thani removed all investment and missed multiple salary payments to players. The club were banned from UEFA competition due to unpaid debts. Due to a lack of investment Malaga suffered a quick decline and were relegated from La Liga in 2018.
Al Thani has been labelled as one of the Middle East’s richest men. Yet, his lack of financial support to Malaga leads many supporters to suggest otherwise. According to reports, he isn’t able to leave Qatar.
Newcastle United supporters should be cautious over the PIF’s investment and ownership of the club. While £240bn sounds like a life altering sum that could make Newcastle United one of the biggest clubs in the world, the team could be just a vanity project for the investment group.
