The temptation might be to claim that with the Saudi Arabia-backed takeover of Newcastle United on the brink of being approved the landscape at St James’ Park will transform overnight. However, this wouldn’t do justice to the 18-month wrangle it has taken to get the takeover bid to this point. Nothing has happened overnight.
According to reports, British businesswoman Amanda Stavely is expected to be the public face of a £300m deal that has been years in the making could be approved in the next 24 hours following news that Saudi Arabia has lifted its four-year ban on beIN Sports broadcasting Premier LeaguePINC and other soccer matches in the country.
Other sources claim the deal is now back on the table because the Saudi-backed Public Investment Fund (PIF), the state’s sovereign wealth fund overseen by Crown Prince Mohammed bin Salman, has provided the Premier League with assurances that the Saudi state will not interfere with the running of Newcastle United.
Whether or not another Premier League club in the grips of foreign ownership is a good thing, this takeover marks a shift in the power dynamic at the top of the English game. With the backing of the Saudi sovereign wealth fund behind them, Newcastle United will surely have lofty ambitions. The Premier League might just have gained another giant.
Of course, Newcastle United’s potential as a super-club-in waiting has been clear for some time. The St James’ Park club is one of the biggest in the country, but tangible success has long evaded them. Under Mike Ashley, the Magpies were held back and even pushed down - Newcastle have suffered relegation twice with Ashley as their owner.
Even by the standard Ashley set for himself over 14 years of ownership, the last few years have been particularly painful for Newcastle United fans as their owner prepared for a sale. The much-maligned businessman lost interest in the club a long time ago with supporters and that has been reflected in the lack of investment made in all areas of the organisation.
Investment won’t be a problem now that Newcastle United are set to welcome new owners. There might not be any big-money, big-name signings until next summer, by which time a new boardroom structure will have been put in place, but a lot of change is in the pipeline for the St James’ Park outfit.
This could be bad news for the likes of Arsenal, Chelsea, Liverpool, Manchester City, Manchester United and Tottenham Hotspur. The so-called ‘Big Six’ won’t welcome a challenger, especially one with the backing of Newcastle United. It might be long until those within the Premier League are referring to a ‘Big Seven.’
A lot if still unknown about the true nature of the new owners set to take over at St James’ Park. No mission statement has been provided and so there is currently a lot of guesswork bouncing around. Nobody really knows how much money will be invested in Newcastle United. No figure has been put on it yet.
However, Saudi Arabia’s sovereign wealth fund aren’t getting involved with a Premier League club to achieve mid-table security. They aren’t in it for the odd cup run or appearance in the Europa League. Newcastle United will surely be expected to deliver more and that expectation could change the face of the Premier League.