NEWCASTLE would have £200million to invest on players in a massive recruitment drive – if the Saudi takeover goes ahead.
Saudi Arabia’s sovereign wealth fund – headed up by Crown Prince Mohammad bin Salman – have held talks with Toon owner Mike Ashley although no formal bid has been lodged yet.
Steve Bruce could have plenty more cash to spend should the Saudi Arabian takeover bid be successful
The deal is being brokered by Brit Amanda Stavelely with all potential funds coming from the Public Investment Fund, which is controlled by Prince Salman.
And people close to the deal believe the investment group is looking to buy Ashley out for £340m.
On top of that, they are looking to invest a further £200m into the Magpies – taking the overall investment to over half-a-billion-pounds.
While Newcastle are yet to comment, they have not denied that talks – believed to have been on and off over the last couple of months – have taken place.
The extra funds, though, would be welcome news for Newcastle fans and manager Steve Bruce.
In January 2019, Ashley finally broke the Magpies’ 14-year transfer record by signing Miguel Almiron for £20.7m before paying a staggering £40m for Brazilian striker Joelinton in the summer.
The takeover could be similar to the Abu Dhabi’s acquisition of Manchester City in 2008 which has led to more than £1bn being pumped into the Citizens to make them into one of the best teams in the world.
Former Chelsea and Manchester United chief Peter Kenyon relaunched his attempt to buy Newcastle from Ashley in the autumn.
His consortium’s bid bizarrely claimed boss Steve Bruce has “unparalleled success in Europe” as American firm GACP Sports – who also own Ligue 1 side Bordeaux – plotted a £300m offer.
Newcastle were also the subject of an attempted takeover bid last year from Sheikh Khaled bin Zayed Al Nahyan and Midhat Kidwai, who confirmed terms had been agreed with the club and had proved proof of funds.
And in November, a Mexican consortium was reportedly put off working a deal with Ashley because he was “rude”.
Prince Salman was the man who convinced Eddie Hearn and Matchroom to stage the Anthony Joshua vs Andy Ruiz rematch in Saudi Arabia.
And the Prince also looked into trying to buy Manchester United for £3billion or supporting a state bid last year but could not persuade the Glazers to sell.
Newcastle provides a far cheaper alternative for the Saudi Arabian.
Source: Soccer - thesun.co.uk
