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NEWCASTLE UNITED BECOME THE WORLD'S RICHEST CLUB IN ONE NIGHT

Abundant funds from Saudi Arabia make The Magpies a rich club beyond Manchester City and PSG.

10.10.2021
BY A. NUGROHO
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Recently, Newcastle United caused an uproar in the world of football. The English league club announced that it was owned by a consortium from Saudi Arabia, the Public Investment Fund (PIF), which had taken over 80 percent of the stake.

The value issued by PIF to take over Newcastle United is around £300 million. The club, nicknamed The Magpies, has more wealth than Manchester City and Paris Saint Germain (PSG) in France, also owned by Middle Eastern funding sources.

The process of changing ownership has been carried out since 2020 but has only been realized now. The owner of PIF, the crown prince of the Saudi Kingdom, Muhammed Bin Salman, took over from Mike Ashley, who has been in power for the past 14 years.

Newcastle's period with Ashley is said to be the worst for the Magpies. The club had been relegated from the Premier League twice and did not produce any titles.

 

 
 
 
 
 
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The Premier League finally agreed to the acquisition after obtaining legally binding guarantees that the Saudi Arabian state would not control the club. The circumstances also delayed the takeover process for 18 months, plus various problems in Newcastle United. Among them was the issue of Premier League broadcasting rights in the Middle East region and the case of human rights violations that made Premier League operators and the British government reluctant to approve the purchase of shares at that time.

"The Premier League, Newcastle United Football Club and St James Holdings Limited have today resolved a dispute regarding the takeover of the club by a consortium of PIF, PCP Capital Partners and RB Sports & Media," the Premier League said in a statement.

"Legal disputes regarding which entity will own and/or have the ability to control the club following the takeover. All parties have agreed that a settlement is necessary to end the long uncertainty for fans over ownership of the club."

"The Premier League has received legally binding assurances that the Kingdom of Saudi Arabia will not control the football club Newcastle United. All parties are pleased to have completed this process which provides certainty and clarity to Newcastle United Football Club and their fans," the Premier said in a statement. that league.

Newcastle United has also given an official statement. Officially the club has a new owner.

"The investment group led by the Public Investment Fund, and also consisting of PCP Capital Partners and RB Sports & Media, has completed the 100 per cent acquisition of Newcastle United Limited and Newcastle United Football Club Limited from St. James Holdings Limited," Newcastle wrote.

 

 
 
 
 
 
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This new ownership was greeted enthusiastically by Newcastle United fans. They are hungry for a title and hope there will be a change in the new owner's status. Although there are also fans, who don't really like English clubs owned by foreigners.

The presence of Prince Muhammad Bin Salman has changed the map of the power of money in the English premier league. Salman's wealth even exceeds the wealth of the owner of Manchester City, Sheikh Mansour.

According to ESPN, Muhammad Bin Salman's PIF has a net worth of £320 billion. Yes, you are not mistaken; that is the number of the wealth of Arab princes.

The amount of funds behind Newcastle United has made several clubs protest against the league's operators. There are 19 Premier League clubs united against the Saudi Arabian consortium. They were concerned that the Arab PIF could undermine the league's brand with its enormous monetary power.

Newcastle United immediately targeted the trophy after this new ownership. They reflect on the success of Manchester City and PSG, who transformed the team into a club full of championship trophies.

Newcastle United director Amanda Staveley expresses this ambition. However, despite having significant funds, team formation takes quite a long time.

"Are we going to win the Premier League in the next five to 10 years? Yes. This takeover is very transformative. We want to win trophies but trophies require investment, time, patience and teamwork," said Staveley.

"Our target now is that Newcastle United deserve to be top of the Premier League. We want to get there. It will take time, but we will get there," said Staveley.

 

 
 
 
 
 
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The first step that Newcastle United did was get rid of the current coach, Steve Bruce, from the coaching chair. Several coaches' names were later linked with Newcastle United, such as former Juventus coach Antonio Conte and former Real Madrid coach Zinedine Zidane. There are also the names of Steven Gerrard and Frank Lampard to become coaches, but Newcastle United still keeps the decision.

Having the power of money makes Newcastle United enter the market for expensive players in the transfer market. Some big names will be free transfers next summer, and this is Newcastle's opportunity to get quality players.

Some suggested names are Barcelona stars Coutinho and Ousmane Dembele. There is also the name of Edinson Cavani at Manchester United, who will be a free agent next year. Other names such as Gareth Bale, Ciro Immobile, Arturo Vidal, Kalidou Koulibaly are likely to join Newcastle in the upcoming transfer market.

We'll see how long it will take for Newcastle United to change from an ordinary club to a winning trophy collection club shortly.

 

 

#newcastle united #Public Investment Fund #Premiere League #Muhammad Bin Salman