Newcastle Takeover

The English football club Newcastle United officialized a Saudi takeover of the club by Mohamed bin Salman, owner of Saudi Arabia’s Public Investment Fund (PIF). Salman has a net worth of over £300 million making Newcastle the richest club in England by a long margin. Just to have an idea of how rich the club now is, adding all other premier league owners together, their net worth does not even reach £100 million.

Newcastle have never been a club of too much success. They’ve had their golden eras back in the 50s and 60s as well as having arguably one of the best premier league strikers ever, in Alan Shearer in the early 2000s. This takeover has potential to see them completely turn around the club in both short term and long term. Newcastle currently sit 19th in the premier league with just 4 points after 9 games, hoping that the January transfer window to come is enough to at least keep them up this season so the rebuild can begin in the 2022/23 season.

Other premier league clubs have assembled to try and stop this takeover as they don’t see this as benefitial for the league. Not only would Newcastle have a massive competitive and financial advantage over their rivals, but the new Magpies owner has also been involved in various human rights scandals which would damage the image of both the club and league. However, there seems to be no stopping this takeover and now all we can do is sit down and witness history as Newcastle may very well become one of the best teams in the world with their new fortune.