Mike Ashley’s 14 years of ownership came to an end as Saudi Arabia’s Public Investment Fund completed the takeover of Newcastle United earlier this month. Taking a close look at PSG and Manchester City, this middle eastern company was trying to enter the European football scene for quite some time now. Finally, they got everything sorted out. Earlier they have faced some complications regarding the takeover due to the violation of human rights. However, the issue looks settled right now, as the Magpies are set to become the richest football club on the European circuit. Now, the question stands that exactly how much wealth do they possess. Let’s take a closer look at their numbers here.
A comparison with the other Premier League biggies:
Football has evolved a lot along the way. It has attracted a lot more business institutes, and it is the future for the beautiful game to sustain its humongous popularity. Over the years, the Premier League has seen some of the great examples of a wealthy taking over the club and changing its course. Manchester City and Chelsea both are prime examples of it. Mansour bin Zayed Al Nahyan and his group took over Manchester City back in 2008 and it was all glory since then for the blue half of Manchester. Similar for Chelsea as well, as their owner Roman Abramovich also played a huge part in their success. Compared to the biggies, the PIF group still stands clear. They are approximately 10 times wealthier than Manchester City who had the richest owners till the takeover, Here’s a list of comparisons to get a perspective of the deal Newcastle is getting.
|Manchester City||Mansour bin Zayed Al Nahyan||$22B||Saudi Arabia|
|Manchester United||The Glazer Family||$4.7B||USA|
|Liverpool||John W. Henry, Tom Werner||$2.8B||USA|
|Spurs||Lewis & Levy||$4.9B||UK|
|Newcastle United||Saudi Arabia’s Public Investment Fund||$320B||Saudi Arabia|
A project to look out for:
The pockets of Newcastle United might be the biggest in the league but that doesn’t guarantee any success football-wise if not spent wisely. However, the first step they took seems to be in the right direction as Eddie Howe is set to replace Steve Bruce in the dugout. Howe is a brilliant young attacking-minded manager, and he can be the key to stabilizing the squad during this exciting new project.