In the summer of 2018, Newcastle United was sold to a new owner, Mike Ashley. The club had been in decline for some time and had lost its way with an aging squad. The sale was controversial as many fans were unhappy with the decision and the lack of transparency from the club.
The newcastle united takeover worth is a question that has been asked by many people. How did the takeover happen? What is the vision? What about Steve Bruce?
Newcastle are 19th in the Premier League, with three points from seven games (three draws).
Newcastle United supporters will be to blame if #cans trended on social media in the following 48 hours.
It’s also a huge shock that it occurred after 18 months. When supporters heard of a January arbitration date last week, they were overjoyed.
Now that one of the league’s most difficult takeovers is completed, supporters can look forward to a better future. Without owner Mike Ashley, the club will be able to compete with Europe’s top clubs due to the billions provided by the Saudi Public Investment Fund (PIF).
However, there are still numerous problems to be resolved. What will the club’s human rights record say about Saudi Arabia? Will the Premier League provide details on how it reached an agreement with the consortium? What kind of budget will Newcastle have to work with? What about Steve Bruce, the team’s manager?
At least there is now a blank page for a fanbase and club that has swung from one controversy to the next over the last two years.
What led to the takeover?
The acquisition was not expected to be finalized this week.
The most anybody could hope for was arbitration in January 2022, when the consortium headed by banker Amanda Staveley attempted to resolve a dispute with the Premier League over who would have ownership of the club.
The Saudi government has been accused of human rights violations and was recently involved in a copyright dispute, making the acquisition difficult to complete based on the Premier League’s owners’ and directors’ criteria.
So the consortium needed to show that the Kingdom’s PIF, which would fund the acquisition with 80% of the funds, was independent from the state. Perhaps more difficult when the governing leader, Crown Prince Mohammed bin Salman, is simultaneously named as the chair of the PIF.
That, however, has occurred as a result of the legal guarantees given. It is known that if such agreements are violated, there would be repercussions. The consortium may also show how PIF already invests in businesses outside of state supervision, such as the McLaren Formula One team.
The Qatari broadcaster beIN Sports said on Wednesday that it had settled its disagreement over Premier League football matches being aired illegally in Saudi Arabia, which was a forerunner to the news of the acquisition coming through.
By demonstrating that the Saudi state and the PIF are separate entities, the problem becomes irrelevant. Nonetheless, the timing was intriguing, given reports that beIN had pushed the Premier League to reject the acquisition.
What are the reactions of the fans?
This season, the average attendance at Newcastle’s three Premier League games has been 48,366.
There is no question that the overwhelming majority of supporters are ecstatic about the Saudi-led takeover, despite the potential for diversions.
The Newcastle United Supporters’ Trust (NUST) polled its members last week and found that 93.8 percent were in favor, down from 97 percent last year, and that owner Ashley gets urged to “get out of our club” at almost every match.
This season, the situation has worse. Newcastle is winless in the Premier League and 94 percent of supporters want Bruce to go “in the best interests of the club,” according to the same poll.
They believe that the takeover will alleviate their suffering. PIF’s £250 billion in assets dwarfs Manchester City’s Abu Dhabi owners and Paris St-Qatari Germain’s owners, and may conjure up visions of signing French World Cup winner Kylian Mbappe or replacing Bruce with Antonio Conte.
“Fans are overjoyed that Ashley’s catastrophic 14-year reign is nearly over,” adds NUST’s Greg Tomlinson. “For the first time in many years, they are looking forward to having optimism and faith in their football team.”
“We are not expecting the club to win titles next season. We just want to see progress and a better football club. The fans have been pounded to a pulp.”
How will Newcastle deal with the issue of human rights?
Despite the Premier League’s claim that PIF is unrelated to the Saudi government, human rights groups and activists think the link is obvious.
Amnesty International has asked the Premier League to alter its owner and director test in order to “address human rights concerns.”
“Ever since this agreement was initially discussed, we thought it constituted a blatant effort by the Saudi rulers to sportswash their terrible human rights record with the glitter of top-flight football,” said Sacha Deshmukh, the company’s UK chief executive.
“Saudi ownership of St James’ Park was never about football as much as it was about image management for Crown Prince Mohammed bin Salman and his government.”
Even if the takeover is complete, some activists have said that the problem will not go away.
Lina al-Hathloul, whose sister Loujain was imprisoned for opposing the freedom of women to drive, believes that demonstrations at St James’ Park may “embarrass” Saudi Arabia.
“Clubs are purchased and sold at the highest level by billionaires and sovereign governments, and we have had no say in it,” Tomlinson explains. However, as a supporters’ organization, we will always advocate for inclusiveness and oppose discrimination and human rights violations.
“We’ll utilize our clout to bring about change where we can.”
Managing the public relations of a Saudi-backed acquisition will be a major task for the consortium, and it will most certainly continue long after the transaction is finalized.
However, the nation has previously shown its ability to deal with these problems by hosting British heavyweight Anthony Joshua’s bouts, the Spanish Super Cup, and an F1 grand prix scheduled for 2023.
Mike Ashley’s 14-year reign as owner of Newcastle United has been tumultuous.
What is the new owner’s vision?
The group, which is backed by PIF’s riches, also includes Staveley’s PCP Capital Partners and British property speculators the Reuben Brothers, both of whom are billionaires, so there is no lack of cash.
Staveley, a Yorkshire native, has already expressed her love for Manchester City after participating in the Abu Dhabi acquisition 13 years ago. She has repeatedly cautioned against extravagant expenditure, focusing instead on how City’s owners have invested in Manchester.
Locals are hoping that the Newcastle owners will follow a similar pattern.
From a club standpoint, one of the 48-year-first old’s priorities will be to revamp the club’s structure and improve connections with fans.
Ashley is seldom heard from, and any communication from top officials usually takes the shape of comments from managing director Lee Charnley, Bruce’s go-to guy for moves.
However, there is no chief executive, no director of football, and Bruce is the public figure who has to deal with weekly inquiries about anything from legal issues to a lack of money for players, which caused a lot of anger in the summer.
What does the future hold for Bruce?
Steve Bruce has won 29 of Newcastle’s 96 games as manager, averaging 1.17 points per game.
Bruce, who is a Newcastle supporter, says he “just wants what’s best for the club, and if that means a takeover, fantastic.”
However, with the new owners attempting to form a connection with fans, the 60-year-job old’s will be jeopardized. Because they won’t be able to sign players until January, a new big-name manager would be a statement of purpose.
When Staveley initially arrived at Newcastle in 2018, she complimented previous manager Rafael Benitez. However, the Spaniard has had a strong start to the season with Everton. Others have shown interest in former Juventus, Italy, and Chelsea manager Conte, who is now available.
Former Chelsea manager Frank Lampard and former Sheffield United manager Chris Wilder are among the other managers on the market. Graeme Jones, the current coach, may potentially serve as an interim replacement.
The most essential goal after a bad start to the Premier League season will be to keep the team in the top level.
However, the future seems to be better for many enthusiasts.
The newcastle united transfer is a takeover of Newcastle United by Mike Ashley. This takeover has come about after the club was relegated to the Championship.
Frequently Asked Questions
Who is Newcastles owner?
Newcastle United is owned by Mike Ashley.
Is Steve Bruce still manager of Newcastle?
Steve Bruce is still the manager of Newcastle.
How much did mike ashley buy Newcastle for?
Mike Ashley bought Newcastle for £134.1 million in 2007.
- mohammed bin salman newcastle
- newcastle united new owner
- newcastle united news
- mike ashley