Newcastle has thus become potentially the richest club in the world , However, Saudi human rights group ALQST has accused the Premier League of being motivated only by money and using “deeply flawed” criteria to assess human rights considerations following the takeover of Newcastle United by a Saudi-led consortium.
Officially bought by the Saudi Arabian Public Investment Fund, Newcastle is joining the ranks of the super-rich in world soccer. The English club now has financial resources greater than those of Paris Saint-Germain.
Indeed, the assets of the Saudi Arabian Public Investment Fund amount to about 346 billion euros. By comparison, Qatar Sports Investments, the Qatari sovereign wealth fund that owns Paris Saint-Germain, is valued at 260 billion euros. Sheikh Mansour, who heads the Emirati fund that owns Manchester City, is far behind with an estimated fortune of 26 billion euros.
An agreement has been reached for £300 million, or €352 million, to buy 80% of the shares in the club owned since 2007 by Mike Ashley. Since the summer, Newcastle United was in legal dispute with the English authorities.
The announcement of the purchase has caused a wave of optimism among Magpies fans. On Thursday, many fans gathered around St James’ Park stadium to express their joy at the prospect of a better future for their club, currently 19th in the Premier League. The latter will now have, like PSG and Manchester City, the means to attract big stars in the coming years to achieve new ambitions. “Of course, we have the same ambitions as Manchester City and PSG in terms of trophies, it’s true but it will take time. Yes, we want to win the Premier League within five to ten years.
According to the English press, the first decision of the new Saudi owners could concern the coach. Indeed, Steve Bruce should quickly leave his place to a coach of world renown. “I’d love to have the chance to show the new owners what I can do, but we have to be realistic and they might want a new manager to start things for them” Newcastle’s coach conceded to the Telegraph. To launch his project, the new management has already approached Antonio Conte. The Italian technician is free since his departure from Inter Milan last summer and could be seduced by the idea of leading the revolution of Newcastle. The names of José Mourinho (Roma), Roberto Mancini (Italy), Rafael Benitez (Everton) or Frank Lampard (ex-Chelsea) are also circulating, with more or less probability, in the press across the Channel.
