It's official, Newcastle United are the richest club in world football. A Saudi-backed consortium has finalised the financial takeover from current owner Mike Ashley for a sum of £300 million. Not only does this turn a once derelict football club into the kingpin of Europe, but also restores hope to a loyal fan base that hasn't seen any relevant Premier League success since the late '90s. However, whilst the pockets of the owners might be deep, will they be able to convince big-name players to make St James' Park their permanent address?
The Saudi Arabia Public Investment Fund, as they're more widely known, have an estimated worth of £320 billion and their procurement of Newcastle United make them the wealthiest club owners on the planet. This effectively turns the Magpies into the new Manchester City and hope to buy their way to the top of the Premier League on their way to conquering all of Europe. Upon completion of the takeover, it was also rumoured that current manager Steve Bruce would be outed from his post, to make room for a more lucrative signing in his place. However, just because the money has finally arrived in Newcastle doesn't necessarily mean it's going to be spent and it could still be more than half a decade before fans see their team back at the top of the table.
Although Newcastle is a quaint and perfectly attractive city, it doesn't exactly stand up against the glitz and glamour of Paris or Barcelona. This is going to be the first dilemma for the new owners as offering players a big check is only one piece of the transfer puzzle. As of now, Newcastle sits 19th in the Premier League table with a fragmented team filled with so-so talent. This doesn't exactly paint the best picture for potential big-name transfer targets, so management must start small and effectively build the club from the ground up; something fans may not have the patience for.
However, the main threat to Newcastle's resurgence is the owners themselves. Whilst the consortium offers substantial funding to the club, stories are already beginning to surface surrounding the reputation of its members. In fact, it's becoming widely believed that Newcastle United's new owners are not there to improve the club but to instead use the investment as a political tool to improve their own image and airbrush past human rights abuses; a bleak closing statement for any manager trying to lure new talent.
This massive financial takeover doesn't exactly cast the greatest light on the world of football either. Whilst other clubs must constantly try to develop talent and drag themselves up through the ranks, it seems unfair that big money can effectively decide the future of football by investing huge sums of money into a single football club. It's very easy for the Premier League to roll over and say "this is the way things are now", but this takeover represented an opportunity to decide that success cannot be bought. With Manchester City and PSG already running riot during transfer windows and paying players obscene amounts of money, does the football world really need another hat in the ring?
I know this is a very bleak view of what I can only imagine is a very exciting time for fans of Newcastle United. This new investment has the potential to rejuvenate a dying Premier League franchise and bring joy to a frustrated fan base that hasn't given a convincing cheer since 1997. However, the journey to the top can often be a long one and the returns on a substantial investment are never guaranteed.
Photo Credit: Steve Daniels - geograph.org.uk/p/6381297
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