Newcastle’s new owners have made the Magpies the richest club in the world with their owners boasting wealth of £300bn and they have outlined their investment plans at St James’ Park
Newcastle’s new owners will spend just £100m on players over the next four years, according to reports.
A Saudi-led consortium completed their takeover at St James’ Park last week, ending Mike Ashley’s reign in the north east.
The move made the Magpies the richest club in the world with the Saudi’s Public Investment Fund worth £300bn.
Newcastle fans were overjoyed by the change at the top of the club with attention immediately shifting to the investment they were poised to make on new names – on the pitch and in the dugout.
Leicester’s Brendan Rodgers has already been linked with the new owners reportedly ready to pay his £16m release clause.
But, according to The Telegraph, those at the top of the club want Newcastle to grow organically and won’t throw huge sums of money at players.
Instead investment will go youth development, upgraded facilities and appointing a sporting director with a long-term view in mind.
That may come as a blow to the Toon Army, who had visions of a Manchester City-like rise up the table.
They and Chelsea, although the Blues were already a top four side, have benefitted massively from foreign investment.
Sheikh Mansour and Roman Abramovich have both thrown huge sums of money at players and managers which has resulted in vast amounts of silverware.
Chelsea’s Russian wealth has resulted in five league titles and two Champions Leagues since 2003. City meanwhile, having been taken over in 2008, have won five league titles, including three of the last four.
Amanda Staveley, whose PCP Capital Partners firm purchased a 10 per cent stake in the club, has claimed she wants to win the top flight within a decade.
Some fans will claim major investment needs to be made given that Newcastle sit in the bottom three and have finished in the top 10 just once in the past five seasons.
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“We want to see it get those trophies, obviously. At top of the Premier League, in Europe, but to get trophies means patience, investment, time. We want everybody to work with us to build the club towards what it needs to be.”
She also added: “We’re really excited about strengthening the squad, but we have to work within Financial Fair Play and make sure this is done over a longer term.
“But you can know and be reassured that we want to invest at every level. We want to get the best squad we possibly can.
“Everybody talks about it [big-name players], but what you need is a team that works well together. That’s also just as important.”