NEWCASTLE UNITED NOW HAS THE RICHEST OWNERS IN WORLD FOOTBALL.
….Yeah, you read that right.
The Saudi Arabian Public Investment Fund (PIF) acquired the club in a landmark deal worth over $400 million. The investment group is chaired by Saudi Arabia’s Crown Prince Mohammed bin Salman. Talk about a war chest, these guys hit the absolute Jackpot and I’m hyped for the fans!
Basically, the King of freakin Saudi Arabia and his “investment company” (which is just the sovereign wealth fund of Saudi Arabia) have bought the club and are plotting a major comeback.
THE PREMIER LEAGUE’S STANCE…
“All parties have agreed the settlement is necessary to end the long uncertainty for fans over the club’s ownership. The Premier League has now received legally binding assurances that the Kingdom of Saudi Arabia will not control Newcastle United Football Club”, said the Premier League in a statement released.
I think this is a bunch of lip service PR bullshit, but it looks good for both parties and I guess it shuts up other teams who opposed the takeover.
Mike Ashley, the now-former owner, served a rough 14-year tenure in which he was constantly criticized for a number of reasons. To be fair to the guy, he has always said if an owner came in with an offer he couldn’t refuse, he would never stand in the way of a potential buyer. Ashley’s stance was always the club first and for that, you have to commend him. At the end of the day, it’s a historic club with a storied past and he recognized that it was time for a change.
Especially now that you dethrone clubs like PSG, Man City, Juventus, Chelsea, and other European giants in terms of spending power.
Here’s what worries me. Francois Pinault, the owner of Rennes in France, is the third richest owner in the world yet they suck. I mean the freakin L.A. Galaxy has richer owners than Arsenal and they play in the MLS. So the richness doesn’t really matter. It’s still Newcastle who by today’s standards are not exactly what they used to be, a top football club challenging week in and week out season after season. The previous ownership let them down drastically.
THE FANS DESERVE IT.
Supporters will feel a real weight lifted off their shoulders with this whole situation. I just wonder what the first order of business is for the Crown Prince. Do you sack Steve Bruce 1 game short of his 1,000th game as a manager? Or do you just back him financially and hope this entire project can attract quality players? I’m not sure, but one thing’s certain. Newcastle are back?