According to The Independent, Newcastle United will not go on a spending spree after the proposed takeover by Saudi Arabia’s Public Investment Fund (PIF) goes through.
It has been reported that PIF and financier Amanda Staveley are confident that the Premier League will eventually approve their bid to buy Newcastle from current owner Mike Ashley.
However, a source close to the Saudi Arabia-backed consortium has said that although Newcastle will have very rich owners, there will not be a huge spending on new players in the summer transfer window.
The report has claimed comparisons with Chelsea and Manchester City are ‘misleading’.
Staying positive
Due to Financial Fair Play (FFP) rules, it is not going to be easy for PIF to invest a lot of money in new players in one transfer window if even if they want(ed) to.
It would make sense for the prospective new owners to take a more considered approach and build the club slowly.
Newcastle are already an established club in the Premier League, and in the next few years, the aim should be to challenge for the Europa League and the Champions League places.
The Magpies will return to action on June 21 when they take on Sheffield United at St. James’ Park in the Premier League.
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