Newcastle fans 'paying tribute' to Saudi owners says reporter
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Newcastle’s billionaire owners are reportedly set to follow in the footsteps of those in charge of Manchester City with a £400million investment. All eyes will be on what Newcastle do in the January transfer market as they begin the new revolution under their Saudi-led owners.
Financial Fair Play regulations limit what Newcastle can do straight away, although there will be £200m available to spend without breaching the rules.
First, a new manager will need to be appointed to replace Steve Bruce and a decision could come as early as next week.
Lucien Favre and Paolo Fonseca appear to be the leading candidates while Frank Lampard and Steven Gerrard have also been touted as options.
A director of football may also be appointed with multiple reports indicating that Marc Overmars is their top target.
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Whoever does come in will almost certainly want money to spend in January, particularly with Newcastle battling against relegation at the moment.
Changes will need to be made, but Newcastle now have the world’s richest owners who have committed to backing their financial investment.
For the Public Investment Fund, it is their first foray into football ownership, but it appears as though they want Newcastle to be the start of their domination.
According to TeamTalk, PIF are ready to splash out £400m to takeover Ligue 1 side Marseille.
Talks are already behind held between PIF and Paris Saint-Germain’s owners, Qatar Sports Investment, on how best to make the step into French football.
The Saudi owners are reportedly keen to follow in the footsteps of City Football Group, who own Manchester City along with a host of other clubs.
Just last year, City Football Group bought their 10th club after becoming majority shareholder at ES Troyes AC, who earned promotion to the top-flight this season.
PIF seemingly want to go in a similar direction and rival Qatar and Abu Dhabi for top spot in dominating football clubs around the globe.
There has been some suggestion that Antonio Conte would be an option for Newcastle as well.
But Ole Gunnar Solskjaer’s precarious position at the helm of Manchester United could scupper their plans.
The Italian head coach is arguably the best manager currently available having left Inter Milan in the summer.
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