- Saudi Arabian Public Investment Fund bought more than 80% of Newcastle United’s shares.
- The deal is worth around $410 million.
- After 18 months and various obstacles, the arrangement between Saudi investors and the former owner Mike Ashley finally went through.
- Mohammed bin Salman, the Crown Prince of Saudi Arabia, will pull the strings.
Newcastle will soon become the richest club in England. The Saudi takeover will be completed, making the Magpies wealthier than all other teams combined.
This is something that might change the landscape of football in general and kick off a new era in the English Premier League.
Salman’s Wealth Around $370 Billion
The specialized institutions are estimating that the wealth of Saudi Crown Prince Mohammed bin Salman is near $370 billion. This sum is four times greater than the combined wealth of all the other EPL owners. This can give you a clear picture of what we are talking about here.
The job hasn’t been done earlier because of several factors. One of them was political because various independent organizations pressured the league to forbid this takeover due to certain political and human rights matters in Saudi Arabia.
Meanwhile, the problem with TV and media rights in Saudi Arabia was another obstacle, but that issue was recently solved as well. BeIN Sports holds the right for that part of the world, but this network was prohibited in Saudi Arabia because of political reasons. In the end, both parties found a mutual language, and the broadcaster will again stream games in this country.
After all the above got sorted out, the transaction between PIF and Ashely got a green light from the other owners and directors of the league.
Odds Starting to React, Newcastle No Longer Favorite for Relegation
The Magpies’ fans were caught celebrating near the stadium yesterday. Their war with Ashley is finally over, and after 14 years they think that the future is much brighter for the famous club.
Under Ashley, Newcastle became, as many would say, a jo-jo club, meaning that they spent time between Premier League and Championship, subsequently winning promotions and getting relegated.
The new management will take certain actions immediately. One of them would be to find a new manager and fire the current one, Steve Bruce.
Bookmakers already slashed the odds on his departure from St. James’ Park, to -750, and he is the No.1 in the “Next Manager to Leave the Post” section.
Meanwhile, the top three favorites to replace Bruce are Eddie Howe, +110, Steven Gerrard +300 (but was +1800 at some oddsmakers a few days ago), and Antonio Conte +400, who appeared in various media as the first target of the new board.
The Magpies were also one of the main favorites for another relegation this season, but the odds were starting to move in the opposite direction after yesterday’s news. At the moment of writing this article, Newcastle to stay up in the Premiership is -400, with a tendency to be even shorter.
As the season goes by, we expect to see many interesting specials for betting on Newcastle. The speculations regarding new players and winter signings are about to start, and once first big names land, the odds of winning some trophies will be much shorter than now.