New Newcastle owners outline plans to compete with Manchester United & other Premier League giants
Newcastle takeover completed
Speculation surrounding a potential Saudi Arabia Public Investment Fund takeover of Newcastle United began to ramp up in April of 2020
It was then reported shortly after that a £300m deal was done, with only Premier League approval missing.
However, the weeks and months that followed saw very little progress made, with a number of issues, such as the Saudis’ links to piracy broadcasting company BeoutQ, brought to light.
As a result, at the end of July 2020, the SAPIF and its partners announced that they had come to the decision to pull out of the Newcastle takeover.
However, after Saudi Arabia lifted its four-year ban on beIN Sports, it appears as though fresh hope was handed to the SAPIF taking over Newcastle once more.
And, on Thursday October 7th, news Newcastle fans were all waiting for arrived, as it was confirmed that the SAPIF, PCP Capital Partners and RB Sports & Media, has completed the acquisition of Newcastle United Limited and Newcastle United Football Club Limited from St. James Holdings Limited.
🤝 An investment group led by the Public Investment Fund, and also comprising PCP Capital Partners and RB Sports & Media, has completed the acquisition of 100% of Newcastle United Limited and Newcastle United Football Club Limited from St. James Holdings Limited.
⚫️⚪️
— Newcastle United FC (@NUFC) October 7, 2021
Newcastle owner’s plans to compete with Premier League’s best
On the back of this, it has been revealed that Newcastle’s owners are worth over 10 times more than Manchester City’s current owners:
Newcastle’s new owners net worth vs. Man City’s owners net worth 🤑 pic.twitter.com/q0ghdOljQG
— ESPN FC (@ESPNFC) October 7, 2021
It has also been suggested that Newcastle will be able to spend over £200m without breaching Financial Fair Play rules.
As a result, Newcastle fans are no doubt eager to see their side invest heavily and compete with the Premier League’s giants.
And now, Amanda Staveley, chief executive of PCP Capital Partners, has outlined her ambitions for the club and plans to compete with the Premier League’s top brass in an interview with the Telegraph.
The Telegraph report that Staveley ‘is “fully aware” of the levels of investment it will take to compete alongside Manchester City, Chelsea, Liverpool and Manchester United and is not daunted by that.’
And Staveley herself added that:
“It’s a gamechanger for us. I hope it’s going to be a gamechanger for Newcastle United but we also don’t want to make promises we can’t keep. I don’t want to say we are going to be top of the Premier League in three years. I would love that. I am ambitious and driven and my partners are similar minded. It’s going to take time to get there. But we look forward to playing competitively. We are in a league where we are very excited about the competition and we will get there.”
Amanda Staveley exclusive: ‘This is the game changer for Newcastle – we are here to win’
+ not afraid to spend big to compete with Man City, Chelsea, Man Utd
+ Plan to win the Premier League
+ Frustrated at team’s underperformance this seasonhttps://t.co/uyVGxCPUU9— Jason Burt (@JBurtTelegraph) October 7, 2021
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