Newcastle United are set to finally become the “next” Manchester City, with a reported takeover in the works from the Saudi Arabia Public Investment Fund, which has a net worth of £320 billion—making the consortium nearly 14 times richer than City owner Sheikh Mansour.
After years of struggle and complacency under controversial owner Mike Ashley, Newcastle United appear poised to ascend to the summit of the Premier League with one of the richest owners in the history of the sport.
Alongside Paris Saint-Germain, the Magpies appear set to become the richest club in the world and have been linked with several top players and managers if the takeover is completed. After 12 years since Abu Dhabi’s takeover at City and the immense success that followed, there have been near-constant rumors of which club would follow in their footsteps, and it appears that the sleeping giant of Newcastle could be that team.
They have the history, stadium, and support worthy of top-level European football. With UEFA adopting a hardline stance on the policy, which states that clubs cannot outspend what they bring in, the new owners will quickly need to find a way to make Newcastle competitive commercially with some of the world’s biggest clubs.