TMA Harding / Shutterstock.com
It has been a long time coming but Newcastle United have finally been sold by Mike Ashley. In what has been a dire time in terms of on the pitch success, the purchase of Newcastle United by Saudi Arabia’s Public Investment Fund, who will hold an 80% stake in the club, is complete.
The takeover deal is worth £300 million but what does it all mean in terms of the management and players?
🤝 An investment group led by the Public Investment Fund, and also comprising PCP Capital Partners and RB Sports & Media, has completed the acquisition of 100% of Newcastle United Limited and Newcastle United Football Club Limited from St. James Holdings Limited.
— Newcastle United FC (@NUFC) October 7, 2021
The purchasing consortium is led by Amanda Staveley and she was quick to release a statement on social media, detailing their ambition. Staveley said, “Our ambition is aligned with the fans, to create a consistently successful team that’s regularly competing for trophies and generates pride across the globe.”
The value of PIF is said to be £300 billion, which is a significantly larger sum of money than both the owners of Manchester City and Paris Saint-Germain. With that in mind, on the face of it, the takeover makes Newcastle United the richest football club in the world.
Staveley has said the plan is to win trophies and that includes the Premier League, which they want to win within the next five to ten years. It is a bold commitment and she has made it clear it will take time for the football club to develop into their vision, which will include a return on their investment.
Rather than immediately going out to target potential new players in the transfer market, things can be done to improve the infrastructure at Newcastle United, beginning with the training ground facilities.
That will be a long term goal and, in the future, it will help to attract top players but what about buying players as soon as January?
It is worth remembering, Newcastle United are second-bottom of the Premier League at the time of writing and yet to win a league game this season.
The Magpies look like a team who are going to be battling to avoid relegation come the closing few weeks of the campaign and the priority must be to move away from the relegation zone as soon as possible.
However, investing in new players is not something that can be done now but there is one important aspect of the team that can be changed and that is the manager.
Steve Bruce will know the situation is not good and he is unlikely to be the man to take the club forward under the new ownership. The main issue with the management position is who takes control if Bruce is sacked?
There is no obvious contender to take Newcastle United into a new era and remain at the club long enough to see the project through.
There should be funds available to bring in new players in January but if their position in the Premier League does not improve, who will be tempted to move to St James’ Park?
— Newcastle United FC (@NUFC) October 8, 2021
There will be improvements made to the squad over time but one transfer window, especially in January, is not going to turn Newcastle United from relegation candidates to title contenders.
The steps are going to be small and the fans will have to be patient.