The deal is now official! Newcastle United have got new owners and the fans cannot wait to hear about the upcoming plans. One of the conditions of the £305 million Newcastle United take-over was that the Saudi-Arabian new owners will take control of the club. After 14 long years as owner of Newcastle United, Mike Ashley will hand the reins to foreign investors - as has happened in the Premier League many times.
The deal was planned to happen back in April 2020, but the buyers backed out a few later after the Premier League offered arbitration to resolve a persisting issue on who would control the club. With the deal done, Newcastle fans can rest assured their club has a bright future in the Premier League, But what do you need to know about the new deal and how will it affect future betting opportunities?
What Does this Mean for Newcastle United?
Newcastle United has finally got what it deserves - a financially backed roadmap in order to take the club back to its glory days. The investment was welcomed by Newcastle fans as they celebrated outside St. James's Park as the news came in.
The take-over means that the club will invest significantly in the squad in order to be competitive for major trophies. As the Premier League gets more competitive, news of a new power club will be welcomed by sports betting fans and we expect Newcastle to be very busy during the January transfer window.
Currently, Newcastle are struggling in the Premier League. Sitting in 19th and still without a win after seven games and Steve Bruce is under tremendous pressure to keep his job. A Newcastle United Supporters' Trust survey revealed that 94% of fans want Bruce to leave. The same survey also revealed that almost all Newcastle fans were in favour of the take-over and are looking forward to the changes that the take-over will bring.
Newcastle's new owners are expected to sack Steve Bruce as manager, but nothing has been said so far, with no dates of when that might happen.
Who are Behind the Newcastle United Takeover?
Mohammad bin Salman is the Crown Prince of Saudi Arabia and has been so since June 2017 He also is the country’s Prime Minister and is said to have a personal fortune of around £13 billion.
The Public Investment Fund is the sovereign wealth fund of Saudi Arabia and is known to be the largest one in the world, with assets worth over £350 billion. This Newcastle United takeover means they have more than they could ever need to build the team of their dreams. Even though those funds are not for the club, it gives reassurance to fans that the new club owners are very healthy financially.
What’s Next for the Squad?
There’s absolutely no doubt that there will be some major re-shuffles in the squad. Nothing has been mentioned as yet but a major shake-up is expected. The club will aspire to compete in the Champions League in the coming seasons with ambitions to win the competition once the club becomes on a stellar level.
We expect a world-class manager to replace Steve Bruce and once that happens. A new player acquisition strategy will be implemented to attract some of the best players from around the globe in order to build enough quality in the team to compete in European football and become serious contenders for the Premier League. To get an early future bet in for this possibility find a bookmaker here!