The Glazers, who own Manchester United, have suffered a financial setback as a result of Newcastle’s takeover.
Following Newcastle’s takeover, Manchester United will now face a new danger.
Following the news of Newcastle’s Saudi takeover, Manchester United’s stock dropped. Ole Gunnar Solskjaer’s team is already having difficulty attracting wealthy owners such as Manchester City and Chelsea. In the following years, the Toon are anticipated to get closer to the top.
Newcastle’s new ownership was certified by the Premier League on Thursday.
“The Premier League, Newcastle United Football Club, and St James Holdings Limited have today resolved the dispute over the consortium comprising PIF, PCP Capital Partners, and RB Sports & Media’s ownership of the club,” he added.
“The legal wrangling centered on whose entities would own and/or have control of the club after the takeover. The resolution has been agreed upon by all parties as required to end the extended period of uncertainty for fans over the club’s ownership.
“The Premier League now has legally enforceable assurances that the Kingdom of Saudi Arabia will not have any control over Newcastle United Football Club.”
“All parties are relieved to have reached a conclusion to this process, which provides certainty and clarity to Newcastle United Football Club and its supporters.”
And now, according to sports finance specialist Kieran Maguire, United share values have dropped as a result of the announcement.
DO YOU CONSIDER YOURSELF TO BE AN EXPERT IN SPORT? Our difficult quiz will put your sporting knowledge to the test. “As the markets digested the impact of the Newcastle takeover, Manchester United’s share price fell another 2.5 percent, erasing another $65 million from the company’s value as the realization that 7 clubs seeking 4 Champions League spots is more difficult than 6 into 4,” he wrote on Twitter.
United will now have to compete with Newcastle for a place in the Premier League.
And, despite having the financial means to do so, the Toon’s new ownership has turned them into significant potential opponents.
Newcastle has a large sum of money in the bank, and a number of players have been linked with a move to St James’ Park as a result.
Philippe Coutinho of Barcelona is one player they could pursue.
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Coutinho, on the other hand, has failed. “Brinkwire News Summary.”