Saudi-backed Public Investment Fund (PIF), the state’s sovereign wealth fund overseen by Crown Prince Mohammed bin Salman, has provided the Premier League with assurances that the Saudi state will not interfere with the running of Newcastle United.
Whether or not another Premier League club in the grips of foreign ownership is a good thing, this takeover marks a shift in the power dynamic at the top of the English game. With the backing of the Saudi sovereign wealth fund behind them, Newcastle United will surely have lofty ambitions. The Premier League might just have gained another giant.
Of course, Newcastle United’s potential as a super-club-in waiting has been clear for some time. The St James’ Park club is one of the biggest in the country, but tangible success has long evaded them. Under Mike Ashley, the Magpies were held back and even pushed down - Newcastle have suffered relegation twice with Ashley as their owner.
Investment won’t be a problem now that Newcastle United are set to welcome new owners. There might not be any big-money, big-name signings until next summer, by which time a new boardroom structure will have been put in place, but a lot of change is in the pipeline for the St James’ Park outfit. This could be bad news for the likes of Arsenal, Chelsea, Liverpool, Manchester City, Manchester United and Tottenham Hotspur. The so-called ‘Big Six’ won’t welcome a challenger, especially one with the backing of Newcastle United. It might be long until those within the Premier League are referring to a ‘Big Seven.’
Saudi Arabia’s sovereign wealth fund isn't getting involved with a Premier League club to achieve mid-table security. They aren’t in it for the odd cup run or appearance in the Europa League. Newcastle United will surely be expected to deliver more and that expectation could change the face of the Premier League. Still, it is unclear just how much money will be invested into the Magpies, with financial expert Kieran Maguire previously claiming that investment could be extremely large despite FFP (Financial Fair Play) regulations.
Newcastle have had a net spend of around £60million since then but investment could still be significant, the Magpies could have up to £250million to spend on players and infrastructure. If investment is smart, north London clubs Tottenham Hotspur and Arsenal could be in danger of being left behind as their respective owners have notoriously refused to spend efficiently in recent years.
The likes of Kylian Mbappe have been very tediously linked with the club in the past - mainly tongue in cheek - but the bookmakers have released odds for the likes of Mo Salah, Paul Pogba, Raheem Sterling, Erling Haaland and Jude Bellingham to sign for the Magpies.