The Saudi owners of Newcastle have a ‘£100 million transfer budget’ for the next four years.
Newcastle United was recently purchased by a Saudi-backed company.
According to rumours, Newcastle’s new owners will spend only £100 million on players over the next four years. Last Monday, the Magpies were purchased by a group consisting of Saudi Arabia’s Public Investment Fund (PIF), PCP Capital Partners, and the Reuben Brothers.
Last year, the group appeared to be on track to buy Newcastle, but the transaction was thwarted when the Premier League wanted assurances that the Saudi state would not have control of the club.
Last Monday, the Saudi government eventually gave such promises, as well as lifting its ban on beIN Sports and agreeing not to broadcast any more Premier League matches illegally through beoutQ.
The events were sufficient to persuade the Premier League to approve the takeover.
Since then, Newcastle fans have been living in a fantasy world.
Newcastle is currently the world’s wealthiest club, with the financial resources to drastically transform their fortunes on the field.
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The club refused to pour money at players during Mike Ashley’s leadership, and was relegated to the Championship in 2009 and 2016.
Now it looks that no player will be out of the club’s price range, and fans are salivating at the thought of seeing some of the world’s top talents play at St James’ Park one day.
The new owners, though, aim to expand the club organically and are unlikely to undertake a major spending binge, according to The Telegraph.
Instead, they’ll put money into youth development, modernize facilities, and hire a sports director to build the groundwork for long-term success.
If the owners pursue that path, it will be a long cry from the techniques used by Manchester City to win at the Etihad Stadium after Sheikh Mansour Bin Zayed Al Nahyan bought the club in 2008.
Over the last 13 years, City has made a slew of signings, with total transfer prices estimated to be about £1.5 billion.
Since Pep Guardiola took over in 2016, the Citizens have spent nearly £1 billion on players and have been rewarded with championships.
Since the takeover, City have won five Premier League titles, three of which have come under the current management.
They’ve also won the FA Cup twice and the League Cup six times. “Brinkwire News Summary.”