Sports
Newcastle United set to become the world’s richest club! – the Magpies are in the money
Newcastle are set to have the wealthiest owners in world football once the £300m Saudi takeover is signed off..
"we aren't here to take part, we are here to take over" #nufc pic.twitter.com/ndINvQxfu0
— ً🇸🇦 (@ConnorNUFC_) October 6, 2021
The takeover by the Saudi consortium is expected to be announced soon after the Gulf state settled its piracy dispute with Premier League broadcast partner beIN Sports and gave assurances over who will control the club.
It will bring an end to Mike Ashley’s 14-year ownership of the Magpies, after much protest over his time heading the club
After the deal is completed, the Saudi consortium are expected to own 80 per cent of the club, with Amanda Staveley and the Reuben brothers evenly splitting the remaining 20 per cent.
Should the deal be structured as per the original deal which was abandoned in the summer of 2020, Newcastle will be chaired by Crowd Prince Mohammed bin Salman and governed by Yasir Al-Rumayyan.
The Toon will be by some way the wealthiest team in world football, with the Saudi Arabian Public Investment Fund worth a staggering £320 billion.
This is by some way larger than Manchester City owner Sheikh Mansour, who had originally been the world’s richest owner at £23.3bn.
Mansour is the deputy prime minister of the United Arab Emirates, and comes from the royal family of Abu Dhabi.
But once the Newcastle take over is announced, the Magpies’ owners will be worth ten times more than Man City.
Paris Saint-Germain are also regarded as one of the world’s richest clubs with owners Qatar Sport Investments with chief Nasser Al-Khelaifi worth £6.5bn.
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