It said in a statement: “The Premier League, Newcastle United Football Club and St James Holdings Limited have today settled the dispute over the takeover of the club by the consortium of PIF, PCP Capital Partners and RB Sports & Media.”
“Following the completion of the Premier League’s Owners’ and Directors’ Test, the club has been sold to the consortium with immediate effect.
“The legal disputes concerned which entities would own and/or have the ability to control the club following the takeover.
“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.
“All parties are pleased to have concluded this process which gives certainty and clarity to Newcastle United Football Club and their fans.”
Following the stunning takeover of Newcastle United by the Saudi Arabian Public Investment Fund for £320bn, the Premier League side is now the richest football club – by far.
Consequently, the Saudi consortium reportedly own 80 percent of the club, while Amanda Staveley and the Reuben brothers evenly splitting the remaining 20 per cent. UK outlet SunSport have now compared the new Newcastle United owners against the richest football club owners across the globe. Stunningly, the list of wealthiest club owners may surprise you.
Top ten richest club owners:
- Newcastle – Saudi Arabia Public Investment Fund – £320bn
- Man City – Sheikh Mansour – £23.3bn
- RB Salzburg, RB Leipzig – Dietrich Mateschitz – £15.7bn
- Juventus – Andrea Agnelli – £15.7bn
- Chelsea – Roman Abramovich – £9.6bn
- LA Galaxy – Philip Anschutz – £8.1bn
- Arsenal – Stan Kroenke – £6.8bn
- PSG – Nasser Al-Khelaifi – £6.5bn
- Inter Milan – Zhang Jindong – £6.2bn
- Wolves – Guo Guangchang – £5.2bn
Those figures are certainly astonishing and will remain implanted in minds for some time. What a daunting difference in the figure between Manchester City’s owner and the leader, who many consider to be extremely wealthy, the wealthiest in fact.
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What could it mean for the Premier League? One doesn’t have to look too far into their memory reserve to recall a certain Manchester Club who’s takeover sparked a lot of roar in football. The sovereign wealth fund PIF are said to be worth £320billion, which makes them roughly 13 times richer than Man City’s owners. After City’s takeover, it didn’t take long for bettors to see the club as a perennial favourite with oddsmakers, which has continued to this day. You can read this BET365 review for more info on their services.
Whilst the capital was available, the strategic plans employed by the club toward their sustained success has been somewhat of a template that Newcastle could look to use and follow. Any resurgence from Newcastle after their new mega-rich owners take charge will be slow. However, and will take place over the coming years because of financial fair play. Investment in the club’s outdated infrastructure and facilities will be required.
It is understood the new owners intend to turn Newcastle into a ‘global brand’ and that PIF will hope to invest £50million per transfer window in squad improvement, but an immediate, significant chunk of investment simply won’t be possible under new rules.
After the turmoil of previous owners and the end to a long standing feud between the fans and Mike Ashley, Newcastle fans can be filled with optimism that no other club may possess at present. The sky’s the limit on what can be accomplished with such a backing, and even the Premier League itself will benefit greatly, to what end is the question?
The Premier League is famed for its competitiveness which many recognize as the key factor to it being labelled the best league in the world. Lord forbid, that Newcastle reach such heights that the league becomes the opposite of this.
There is much doubt though of these claims or assumptions, and more optimism as the general feeling amongst all fans. Excitement has been installed in everyone, after all, Newcastle United are a prestigious club that the majority of football fans were in agreement on that it deserves better.
One ponders what the face of football will look like in the future, with possibility rife to an extent we could never have imagined previously, whereby the biggest stars could be playing at St. James Park in the very foreseeable and near future. Can you imagine Mbappe in a Newcastle shirt? It is now a definite possibility.
The biggest clubs in the league are braced to have another new incredibly powerful competitor unlike ever before fighting for the Premier League title. With record breaking transfers prominent in modern day football and price tag crushing fees, one can only imagine what may happen soon.
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