It’s actually happened. After so many false dawns, so much heartbreak and plenty of mediocrity, Newcastle have finally escaped Mike Ashley’s clutches.
Now, the Public Investment Fund of Saudi Arabia have taken an 80% share in the Magpies, while Amanda Staveley and Jamie Reuben have 10% each.
It’s a huge deal. Just like that, Newcastle have become the richest club in Europe, dwarfing their opposition in terms of finances.
For context, the PIF’s net worth is £320bn, whereas Manchester City owner Sheik Mansour is worth just £23.3bn in comparison (The Sun).
So, with Financial Fair Play still in existence, how much can Newcastle spend before breaking the rules?
According to the Daily Mail, the Magpies can splash £200m on new players.
Football finance expert Kieran Maguire told the Daily Mail that, for all his wrongs, Ashley has actually left Newcastle in fantastic shape.
Given the lack of spending under him, Newcastle’s finances are strong.
Maguire said: “For all that is wrong with Mike Ashley, I would love to be buying a club from him.”
Newcastle have made a profit of £38 million across the last three years, and Maguire adds that Newcastle’s spending allowance is greater as a result.
So, in a strange way, all of those quiet, underwhelming transfer windows under Ashley have actually allowed the new owners to let their hair down a bit in the market.
It’s all looking up for the Magpies, and after 14 years of hurt, they finally have a bit of hope back.
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