Newcastle will have the richest owners in world football once £300m Saudi takeover is complete

Newcastle are set to have the wealthiest owners in world football once the £300million Saudi takeover is signed off.

The purchase of the club by the Saudi-led consortium is expected to be announced imminently after the Gulf state settled its piracy dispute with Premier League broadcast partner beIN Sports and gave assurances over who will control the club.

It will bring an end to Mike Ashley’s 14-year ownership of the Magpies, after much protest over the Sports Direct billionaire’s time heading the club.

Newcastle are set to become one of the richest clubs in world football after a Saudi takeover led by Crown Prince Mohammed bin Salman

The move will put an end to Mike Ashley’s 14-year stint as owner of the Premier League side

After the deal is completed, Saudi’s Public Investment Fund (PIF) is expected to own 80 per cent of the club, with Amanda Staveley and the Reuben brothers evenly splitting the remaining 20 per cent.

The original deal, which was abandoned in the summer of 2020 due to the Premier League’s objections, would have seen Newcastle chaired by Crown Prince Mohammed bin Salman and governed by Yasir Al-Rumayyan.

Al-Rumayyan, the governor of the PIF, is reportedly still being lined up as the club’s non-executive chairman. Bin Salman’s role is surely removed, however, given the Premier League have now received assurances that the state will not be directly involved in the running of the club, and sources say this will see the deal given the green light.

The Toon will be by some way the wealthiest team in world football, with the Saudi PIF boasting assets worth a staggering £320billion, with stakes in companies ranging from SoftBank to Boeing, Facebook and Uber.

Man City’s Sheikh Mansour had topped the list as the Premier League’s wealthiest owner

This wealth is by some way larger than that of Manchester City owner Sheikh Mansour, who had originally been the world’s richest football club owner at £23.3bn.

Mansour is the deputy prime minister of the United Arab Emirates, and comes from the royal family of Abu Dhabi.

But once the Newcastle take over is announced, the Magpies’ owners will be worth 10 times more than City’s.

Paris Saint-Germain are the only club who can compare with Newcastle under their new ownership. President Nasser Al-Khelaifi’s own wealth is reported to be around £6.5bn, but he is just the front man for owners Qatar Sport Investments, an offshoot of Qatar’s Investment Authority – which is the equivalent of the Saudi PIF.

Qatar’s natrional wealth fund holds assets valued around £220bn, including London’s iconic The Shard building and luxury retailer Harrods, plus stakes in companies such as Volkswagen and Barclays.

Newcastle’s proposed owners are worth even more than the £200billion-plus wealth of PSG’s Qatari owners, fronted by club President Nasser Al-Khelaifi (pictured)

Steve Bruce’s side are currently 19th in the Premier League after the opening seven games

Yet Newcastle’s new owners are still worth vastly more than PSG’s incredibly rich owners.

A buy-out was abandoned initially last year when the consortium — led by Saudi’s Public Investment Fund (PIF) and including Amanda Staveley and the Reuben brothers — were unable to prove separation between themselves and the Saudi state.

The Premier League have now received assurances that the state will not be directly involved in the running of the club and sources say this will see the deal given the green light.

After updates surrounding the takeover, Newcastle fans rushed to social media to express their joy at the news as they now can dream of lucrative signings to help push the club forward.

‘Bring back the entertainers. Bring back European nights. BRING BACK MY NEWCASTLE UNITED. #nufc #nufctakeover,’ one excited fan wrote.

Another supporter wrote: ‘I’m ready for it all. This takeover feels like the love of your life keep walking out, and coming back promising to change. Yessssssss.’

Top 10 wealthiest football owners

1. Saudi Arabia Public Investment Fund – Newcastle if deal goes through (£320bn)

The consortium invests on behalf of the country’s government and after years of not spending much on players, the club is set to by some of the world’s most powerful people representing the gulf state.

2. Qatar Investment Authority – PSG (£220bn)

Former tennis player Nasser Al-Khelaifi became friends with the emir of Qatar, Sheikh Tamim who is the head of sovereign wealth fund Qatar Investment Authority. An offshoot of the fund bought PSG in 2011, with Al-Khelaifi made chairman and CEO.

3. Sheikh Mansour – Manchester City (£21bn)

Mansour bought City in 2008 and turned them into one of football’s biggest clubs globally. He is the deputy prime minister of the United Arab Emirates and comes from Abu Dhabi’s royal family. Khaldoon Al Mubarak handles the day-to-day running of the club.

4. Dietrich Mateschitz – RB Leipzig and RB Salzburg (£15.7bn)

The founder of Red Bull who has invested his cash into sport. Has had a Formula One team since 2005, the same year he purchased what was then known as SV Austria Salzburg. He later founded RB Leipzig in 2009 and both teams are now Champions League regulars.

5. Andrea Agnelli – Juventus (£14bn)

The son of former chairman Umberto and was appointed to the role in 2010 to become the fourth member of the family to run the club. The Agnelli family made their fortune having founded Fiat in 1899 and also own Ferrari as part of the giant Exor group.

6. Roman Abramovich – Chelsea (£10.5bn)

Arrived in 2003 and turned them into Premier League winners in two years. His biggest business beforehand came in petrochemicals and oil trading, gaining a controlling stake in one of Russia’s largest oil companies Sibneft in 1995.

7. Philip Anschutz – LA Galaxy (£8.1bn)

Turned to sports after previously being involved in the family business of oil drilling. Helped found the MLS and has owned a whole host of clubs including the LA Galaxy, Chicago Fire, Colorado Rapids, Houston Dynamo, San Jose Earthquakes and D.C. United.

8. Stan Kroenke – Arsenal (£6.8bn)

First brought shares in the Gunners in 2008 before increasing his stake in 2011. The American owns a number of sports teams including the LA Rams, Denver Nuggets and Colorado Rapids. His real estate development group specialises in shopping centres and apartments.

9. Zhang Jindong – Inter Milan (£6.2bn)

Despite Inter Milan’s recent financial issues they have one of the world’s wealthiest owners. Zhang, 58, is the founder and major stakeholder in retailer Suning and purchased a majority stake in the Italian giants through his own private holding company in 2016.

10. Guo Guangchang – Wolves (£5.2bn)

Purchased Wolves in 2016 and has helped turn the club into a Premier League side. Chairman of the Fosun Group who after expanded into healthcare and retail became one of the largest investments firms across the world.

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