EPL: Newcastle will be richest club ahead of Man City, PSG after Saudi takeover
Premier league side Newcastle are set to be the richest team in world football, after a takeover by the Saudi Arabian Public Investment Fund worth a whopping £320billion, SportsMail reports.
Newcastle will have the wealthiest owners in the world, once the £300m Saudi takeover gets signed off.
The takeover should be public after the Gulf state settles its piracy misunderstanding with Premier League broadcast partner, beIN Sports.
The moves brings an end to Mike Ashley’s 14-year ownership of the Magpies.
Crown Prince Mohammed bin Salman will be the chairman and Yasir Al-Rumayyan the governor.
The new owners will be richer than Manchester City’s owner, Sheikh Mansour, who has sits as the world’s richest owner at £23.3bn.
Mansour is the deputy prime minister of the United Arab Emirates and comes from the royal family of Abu Dhabi.
Once the deal gets seal, the Magpies’ owners will be worth ten times more than Man City.
Meanwhile, Paris Saint-Germain are also on the list of the world’s richest clubs. With owners Qatar Sport Investments with chief Nasser Al-Khelaifi worth £6.5bn.