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New Newcastle owners explain Man City motivation behind £300m takeover

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08.10.2021 - 11:09

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Newcastle's new owners want to catapult the club to the same level Manchester City are currently operating at and challenge them for titles, Amanda Staveley has said.

Staveley, a key player in the takeover by a consortium led by the Public Investment Fund (PIF), was speaking after the £300m deal was completed after a lengthy process that saw the Premier League receive assurances that PIF was not linked to the Saudi Arabian state.

After being satisfied that the new owners were fit to take over, there have been celebrations in Newcastle as they become the richest club in the Premier League, dwarfing the financial power of even City and their owner Sheikh Mansour.

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manchestereveningnews.co.uk

10.10.2021 / 15:43

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Newcastle United have grand plans to challenge for the Premier League title in the next five to 10 years, following their takeover that was completed this week.

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Newcastle's new owners worth six times more than Premier League rivals combined

Newcastle's new Saudi Arabian owners are worth six times more than every other Premier League owner combined - demonstrating the insane wealth now at St James' Park.The Magpies announced their long-awaited £300million takeover earlier this week, with a consortium led by Saudi's Crown Prince Mohammed Bin Salman buying Mike Ashley out.The arrival of Bin Salman - who's Public Investment Fund has an 80 per cent stake in the club with businesswoman Amanda Staveley and property tycoons the Reuben brothers taking the other 20 - has handed Newcastle major financial muscle to compete with the biggest clubs on the planet in the transfer market.According to Olbg's list of richest sports club owners in the world, the Saudi Crown Prince's Public

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Alan Shearer set for Newcastle return under new Saudi owners after £300m takeover

Newcastle United under the club's new Saudi Arabian owners after their £300million takeover of the club was completed.The deal was finalised and announced on Thursday afternoon after months of talks, ending the 14-year reign of Mike Ashley as the club's controversial owner.New co-owner Amanda Staveley has already begun laying out her vision for the club, telling Sportsmail that the club are now eyeing a league title within the next five to 10 years.It is also understood that manager Steve Bruce will be sacked and receive an £8million pay-off.The latest name to be linked with replacing Bruce is Leicester City boss Brendan Rodgers, who joins Steven Gerrard and Antonio Conte in being linked with the Newcastle hot seat.It's not just a new

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