Newcastle United, my 3rd favourite football club has been acquired by a Saudi owned consortium, Public Investment Fund (PIF). This deal has been on the table for years and now it has finally happened, Mike Ashley isn’t the owner of Newcastle United Football Club anymore. I am sure he is a happy man after a heavy payout. Ashley is happy, the fans are happy so let’s see if the new investors will be happy in the coming years.
In a deal worth over £300m, PIF now owns 80% of the club and the lady that ensured the deal happened Amanda Staveley has been handed a seat on the Board as a Director. It looks like the first business is will be to first replace current manager Steve Bruce, get a top manager (a lot would be interested) and then raid other clubs. They say Newcastle will be battling for the Premier League in the next few years. I don’t agree but if they win the English Premier League I sure would be glad.
We have new Sheriffs in town, and they have got DIBS.