After 14 contentious years, the day Newcastle United fans have been waiting for has finally arrived: Billionaire Mike Ashley has finally stepped down and Saudi Arabia has taken his place. From selfishly renaming Newcastle’s stadium in honor of Ashley’s company Sports Direct to lackadaisical preparation and sluggish response during challenging periods, fans have perceived the tycoon as an irresponsible, pantomime villain. Supporters wanted hope, and now they have it. Despite the involvement of Saudi’s Public Investment Fund (PIF) raising questions about sports-washing and morals, a drastic change in ownership brings much excitement. Here’s a brief overview of what you need to know about Newcastle United’s takeover.
Who are the new owners? Their priorities?
The three-party consortium consists of Staveley’s venture capital and private equity company PCP Capital Partners, Reuben Brothers (RB) Sports and Media, and the Saudi Arabian PIC, also known as the sovereign wealth fund of Saudi Arabia. The involvement of the wealthy Saudis has made the prospect of this takeover tantalizing for Newcastle supporters, but their presence has also stirred controversy. Why? First, there are moral issues. Amnesty International has repeatedly raised concerns regarding Saudi Arabia’s dismal human rights record, and Hatice Cengiz, the fiancee of Jamal Khashoggi, a journalist murdered in the Saudi consulate in 2018, also urged the Premier League to block the takeover. However, ethical reasons were not the only reason why the takeover stalled. Rather, the issue of piracy has made the transition process an increasingly complex one. Qatar-based broadcaster beIN Sports, which holds the Premier League TV rights for the Middle East region, has opposed the takeover as they claimed that Saudi network Arabsat had been involved in the theft of beIN’s broadcast feed and breached several policies protecting intellectual property.
What will the new owners’ priorities be? Newcastle is currently second-bottom of the Premier League with three points and no wins eight games into the new season. However, the Magpies’ string of subpar seasons is a byproduct of multiple historical issues at the club—from a squad in need of freshening up, to a manager disliked by supporters, to the lack of a purpose-built training facility, a youth academy in desperate need of investment, and worn-out infrastructure. All of those aspects of the club will certainly be reviewed under new ownership.
“Process” will be a critical mantra as Newcastle hopes to build a new foundation. Where they can make an immediate impact is in an area that Ashley has neglected during his 14-year tenure: communication and active engagement with supporters. Despite having a slew of passionate fans, Ashley failed to engage the club’s supporters. However, by placing them front and center of the new regime, the Saudi ownership could set themselves up for great success.
Could we see a squad overhaul?
With the transfer window closed until January, squad changes cannot be made for almost three months apart from signing clubless free agents. But, throughout the next few windows, influential signings are expected to be made. The development of the squad over a succession of transfer windows is viewed as a priority, and the club’s transfer budget will be supplemented by the new ownership, although audacious signings such as Dortmund’s Erling Haaland or Manchester United’s Paul Pogba appear unlikely.
Of course, Financial Fair Play (FFP) regulations at the European stage must be considered. The COVID-19 pandemic has seen FFP rules altered; at Everton, for instance, spending during the summer had to be curbed following consecutive years of lavish fees. Newcastle have considerable room to expand their budget parameters, given the minimal amount of spending under Ashley. Still, any transfers made in the coming months could affect future windows, something which the owners must surely be aware of.
Nonetheless, between now and January, the owners believe that more can be squeezed out from the club’s existing players. The returns of striker Callum Wilson, last season’s top scorer for Newcastle, and Martin Durbravka, the first-choice goalkeeper, will undoubtedly boost the starting lineup. The mixture of Wilson’s precise finishing and winger Allan Saint-Maximin’s creativity in the midfield region has looked promising.
How will Newcastle fans feel?
A bizarre range of emotions—absolute delight that Ashley has finally departed, mass relief that this exhausting saga has eventually come to an end, or genuine excitement at the potential transformation of their team. That said, there will also be supporters who feel uncomfortable, if not appalled, that the Saudis have now taken a significant stake in their club. Those previously mentioned moral concerns will leave many fans conflicted. Regardless, most Newcastle supporters have been desperate for Ashley to resign, and the fact that he finally has been replaced by owners with an ambitious vision will only reinvigorate a fanbase that has become worn down.
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