Liverpool legend Robbie Fowler believes Newcastle United’s £300million Saudi-backed takeover has the potential to change the landscape of English football. Like Manchester City and PSG before them, the Magpies became the latest club to be backed by a Gulf state’s billions when Saudi Arabia’s Public Investment Fund acquired an 80% stake last October.
Co-owner and figurehead of the takeover Amanda Staveley promised on arrival to win the Premier League within five to 10 years. Governance by Financial Fair Play - regulations Man City did not have to observe during their meteoric rise - means breaking into the upper echelons of the division is a tougher challenge than it was in 2008.
The new owners have spoken of a “steady build”, building the club and its infrastructure gradually to keep in line with FFP. Despite this, the Magpies have still spent around £150million on new players since the takeover and more are expected to arrive this summer.
