Exclusive: Newcastle United could still have new owners before the start of next season However, instead, the bidders issued a statement confirming the bid had finally been withdrawn. Newcastle United are on the verge of new owners after 13 years of Mike Ashley in charge and attention is turning to potential first moves of the would-be owners. He certainly isn’t in the same ballpark as the $380 billion Saudi PIF. Newcastle takeover: Premier League chief Richard Masters to face fan questions Newcastle owner Mike Ashley and the consortium could launch legal action at the High Court in London. Saudi Arabia’s role in the proposed takeover of Newcastle United comes at a time when Middle Eastern owners have already exerted considerable influence over football in Europe. When the third most wealthy people in the UK are only willing to be minor investors in the club, that should show the scale of the investment needed to compete at the top end of the Premier League.As for Henry Mauriss, the supposed rival bidder who claims to have similar visions for Newcastle United as Fenway Sports had for Liverpool, nobody quite knows his net worth, as Mauriss doesn’t appear on any rich lists. As well as watching and writing about the game, I enjoy a kickabout too. Saudi Arabiaâs Public Investment Fund (PIF), chaired by Saudi Crown Prince Mohammed bin Salman, is part of a three-party consortium For Newcastle fans, the proposed takeover heralds overdue change.After 13 years under the ownership of Mike Ashley, the British businessman who runs retail brand Sports Direct, the feeling is that the club has been Newcastle, a powerful force in English football during the 1990s, suffered two relegations under Ashleyâs tenure. Newcastle United owner Mike Ashley buys parts of DW sports ITV 11:05 24-Aug-20 Mike Ashley's Frasers Group saves 922 jobs in £37m DW deal Original 106 Aberdeen 09:34 24-Aug-20 Mike Ashley set to make public statement regarding Newcastle United takeover situation – Report The Mag 09:15 24-Aug-20 Maguire says the club spent £62 million ($77 million) on transfers in 2008, the summer after Sheikh Mansour took charge, which included breaking the British transfer record in the purchase of Brazilian forward That was about 12 times what the club had spent the previous year, and Cityâs outgoings on players only grew in the years that followed.Two seasons later, the likes of David Silva, Yaya Touré, Mario Balotelli and Edin Džeko were all brought in as, according to Maguire, £165 million ($204 million) was splashed on transfers in 2011; the season after that came Sergio Aguero, who helped deliver City its first league title for more than 40 years in âIt is known that wealthier clubs are more successful over the long term than their rivals with fewer resources,â Simon Gleave, head of sports analysis at data company Gracenote, tells CNN Sport.âWhen the current owners took full control in 2008, Manchester City were outside the top 20 richest clubs, and not amongst England's six wealthiest teams.âThe investment made by the owners made Manchester City competitive in the transfer market with the top English clubs, improving the team to the point that they could regularly challenge for trophies.âIn comparison to other English top-flight teams, Mike Ashleyâs limited investment in Newcastle has seen the club twice drop into the Championship and seldom finish in the Premier League's top half.Manchester Cityâs Abu Dhabi owners invested heavily in player signings after taking over the club in 2008.
Cityâs Abu Dhabi owners have been able to invest in a state-of-the-art âLike any new owners coming in, it'll be important that [Newcastle] have got the right people to give them the right advice to make sure they're spending their money as cleverly as possible ⦠to maximize every pound that they are going to invest in,â sports lawyer Daniel Geey tells CNN Sport.âAnyone expecting owners to come in even with very deep pockets and to spend like, for example, Roman Abramovich did, or Sheikh Mansour has done with Manchester City â I think those days are a little bit behind the Premier League.ââIn the case of Newcastle, it wipes its own face.
But if they can qualify for Europe on a couple of occasions then they will become Saudi Arabiaâs local club, as it were.âOn and off the pitch, change is certainly in the air at Newcastle United. Well, The Reuben brothers’ 10% share reflects the gap in wealth between them and Saudi Arabia’s PIF. Liverpool FC at St. James Park on July 26, 2020. Many Newcastle United fans had been keen to see the takeover go ahead, dreaming of a day in the near future when they could be challenging for the title like Newcastle were under Kevin Keegan in the 90s. Saudi Crown Prince Mohammad Bin Salman is primed to prise Newcastle United away from owner Mike Ashley as a £300m takeover of ... with some fans splintering off and forming FC … The decision to temporarily rename the club stadium to The Sports Direct Arena in 2011 was also met with fan resentment.Hostility to the Ashley regime probably explains why a survey by the Newcastle United Supporters Trust in April found that 96.7% of the more than 3,397 fans questioned were in favor of the new ownership group, which is being fronted by PCP.The hope is that the new owners can inject more money into the club and propel Newcastle back to the top of English football.The takeover has been rumbling on for months with other investors âIf the fans have faith in the owners then that builds trust and trust builds time,â Kieran Maguire, a university lecturer on football finance and author of The Price of Football, tells CNN Sport.âIf it was me [as a new owner], the focus would be to have a strategy, have a director of football who can therefore say, âThis is the way that Newcastle United is going to go forwards, this is going to be our style of play in conjunction with the manager.ââItâs the dull stuff, itâs the back office, the business operations that I would address first. Liverpool's Maxi Rodriguez (left) celebrates with his team-mates Fernando Torres (right) and Steven Second, and more importantly, is that the asset FSG purchased was already worth a lot more than Newcastle United. New York Times journalist Tariq Panja wrote “The idea that only one group could ever buy Newcastle is utter nonsense. Much like City, PSG's domestic hegemony hasn't translated into European success.Gleave also notes that City was rated the 68th best team in Europe when ADUG took over according to Gracenoteâs Euro Club Index, which ranks all European football clubs based on competition results over a four-year period.The club has risen up the pecking order under a number of different managers since then, before acquiring the top spot under Pep Guardiola in 2019.Today, the chances of Newcastle matching the sort of spending that propelled City to success are remote given the restrictions football clubs must adhere to.In the Premier League, a club can make losses of up to $130 million over three seasons and $33 million over three years for UEFA competitions.
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