Newcastle’s proposed new owners won’t offer bottomless pit of cash like Man City
Newcastle will challenge the Premier League’s elite – but NOT at any cost.
That’s the message from the club’s proposed new owners as they aim to make the Tynesiders a leading force in English football.
The heavyweight consortium, led by the money from Saudi Arabia’s sovereign wealth fund, have fixed the so-called ‘Big Six’ firmly in their sights and are determined to muscle in on the Champions League action.
While significant cash will be made available to upgrade the first-team squad, the in-coming proprietors are mindful of the pitfalls of Financial Fair Play – and will stick to the rules.
Any investment will be made with that in mind but the club’s new owners are confident that with the backing from the Toon Army and the worldwide reach of the brand that they can generate huge interest in the Tynesiders club – and spark a revival.
Ever since out-going owner Mike Ashley first indicated a willingness to sell, the purchasers have been drawing up a massively-detailed business plan which will kick into action once the Premier League gives its formal assent for the takeover to be completed.
According to sources close to Ashley, a deal was struck between the two parties last month – and contractually agreed very recently – and all that remains is for ratification from the suits in London.
This is expected within the next three weeks – and then it will be all systems go as the new regime is given the chance to put its blueprint into operation.
Discussions have taken place at senior level within the consortium, led by Amanda Staveley’s PCP Capital Partners, at how best to make their mark.
But any suggestions that Newcastle could follow the pathway of Chelsea under Roman Abramovich and Sheikh Mansour at Manchester City by firing a massive shot across the bows of the established hierarchy has had to be tempered by financial realism.
Rules have been set down to make it far harder for any newcomers to make their mark at that level and Uefa have signalled their intention to clampdown on any perceived overspending by outlawing Manchester City’s participation in their flagship competition, the Champions League, as a penalty for breaching their regulations.
Newcastle’s new owners will operate with that in mind – but the manner in which Ashley has stemmed the losses at St James’s Park and made the club wash its own face – will be of a huge help towards creating a squad that will compete with the very best.
However, the Coronavirus has had an effect on the plans – and supporters will not see too much by way of change until the outcome of the current season has been decided.
The new executive management team wants to embed itself in the running of the club, finding out the true state of the business before putting their own ideas into operation.
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