In the blink of an eye, Newcastle have just become a complete and utter juggernaut of the footballing world, in a financial sense.
Mike Ashley has sold the Magpies after 14 years of mediocrity on Tyneside, to a consortium who have more money than you could ever imagine.
In fact, there’s no need to imagine – let’s see how much they’re worth.
Amanda Staveley, Jamie Reuben and the PIF
Ashley has sold 100% of Newcastle, and it will be split between Amanda Staveley, Jamie Reuben and the Public Investment Fund of Saudi Arabia.
The PIF will own 80%, whereas Staveley and Reuben will take 10% each.
So, here’s where it gets a bit mind-boggling.
The PIF have a net worth of £320bn. Not million, billion. Can you even fathom that much money? We certainly can’t. (The Sun)
To put this into context for you, Manchester City are renowned across Europe for being filthy rich.
However, Sheik Mansour – who owns the Citizens – is worth just £23.2bn in comparison to the PIF.
Realistically, Newcastle could dominate European football for decades if the new owners play their cards right on Tyneside.
Exciting times, to say the very least.
One extreme to the other
Newcastle aren’t just entering life under new ownership, they’re entering a whole new world all together.
The Magpies and their supporters have gone from an owner who didn’t like to spend anything, to a group who have money to burn.
It’s going to be quite the shift.
The important thing now is to be sensible with the money.
Newcastle must ensure they stay within Financial Fair Play guidelines, and also make sure the club is not left in a dangerous position if the new owners ever decide to pack up and leave.
Having said that, fans won’t care about that right now – in our view, all they’ll care about is getting on the cans. Their dreams have become reality.
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