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Newcastle United’s new owners will be walking through the doors of St James’ Park after Mike Ashley sold the club – but what is their net worth, where has that wealth come from and how much of it will the club be able to spend?
Technically speaking, Saudi Arabia’s Public Investment Fund (PIF) is the driving force behind the £300 million bid for the Magpies with Crown Prince Mohammed bin Salman a major part of that organisation.
The Saudi PIF will take an 80 per cent stake with 20 per cent split between Amanda Staveley's PCP Capital Partners and British businessmen the Reuben brothers.
The collective wealth of the Saudi PIF, which stands at an estimated £320 billion, will dwarf that of any other ownership group currently in the Premier League should the takeover go through.
Manchester City’s Sheikh Mansour comes closest at £23.3 billion with Chelsea owner Roman Abramovich behind that at £9.6 billion.
Newcastle will now be worth more than Qatar-owned French club PSG.
Created to invest funds on behalf of the country’s government, the Saudi PIF is the largest sovereign fund in the world with its current portfolio consisting of around 200 investments including stakes in Tesla, luxury beach resorts on the Red Sea and General Electric in the United States.
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Saudi Arabia’s economy is extremely dependent on its vast oil resources, but the country has plans to ease that dependency through its so-called ‘Saudi Vision 2030.’
The Saudi PIF will play a major role in this with the purchase of Newcastle United another indication that the country sees sport as a future area of investment.
Such wealth will almost certainly shake up English football’s established order, but UEFA’s Financial Fair Play regulations means Newcastle United won’t be able to spend without restrictions, even if such rules have been relaxed somewhat in recent years.
- Saudi Arabia
- Newcastle United FC
- Premier League
- Kim Kardashian
- Mike Ashley
- Net Worth
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