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Home Football World Football Newcastle Takeover: Bruce Set For A Whooping £200m Summer Spending Splurge

Newcastle Takeover: Bruce Set For A Whooping £200m Summer Spending Splurge

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Steve Bruce press conference: Newcastle manager on Matt Ritchie's ...

 

Newcastle United will be relaunched with £200m of extra investment in players and club improvements.

Mike Ashley is set to sell up in the next few days to a Saudi-funded consortium who will pay £300m to take control.

The Saudi’s are ready to make a series of three-yearly injections into the Geordies to build them up into Champions League challengers.

Detailed financial plans have been submitted to the Premier League in a 350 page dossier they hope will get approval in the next fortnight.

Around £200m will be available to spend building the foundations of the club over the next few years – before further boost are provided if the club is challenging and making waves.

That will include new signings, but also a revamp of the club’s training ground, academy and internal workings to make it capable of generating more income.

Steve Bruce’s immediate future, when completing the postponed season, is not likely to be in doubt, but in the medium term there will be clamour to reappoint Rafa Benitez.

The group believe that the St James’ Park outfit has huge potential to be expanded into a leading European and global brand.

The club currently makes £179m a season.

However the new owners know they can exploit two factors.

Newcastle has been cautiously run by Ashley in terms of spending, with £60m a season available for transfer and wage bill increases even before a takeover.

And with the Covid-19 crisis set to rock the transfer market and send player values tumbling, added financial power will provide even more impact on the pitch.

Insiders believe that incomes could soar once they take charge and negotiate better sponsorship and commercial deals which have been under exploited during Ashley’s 13 years in charge.

A rise of at least £50m a year in extra income streams within five years is anticipated.

All-powerful Saudi businessman Yasir Al-Rumayyan, head of the Public Investment Fund, which will take an 80pc stake, is set to be club chairman.

He will have to pass the Premier League’s fit and proper person test to run the club.

He’ll be joined by financier Amanda Staveley and Jamie Reuben, whose businesses will take 10pc slices.

Read More: Newcastle Takeover: Premier League,UEFA Warns Incoming Owners Over Transfer Plans

They will move to manage expectations when they take charge – with some fans already joking about signing Kylian Mbappe.

While ambitious, the consortium will look to build in a business-like way, while delivering fans hope of better entertainment on the pitch.

A series of easy PR wins, including engaging influential fans and supporter groups will be an early priority, in a bid to quell controversy over the Saudi state’s human rights record.

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