Sir John Hall has revealed he feels uneasy at Newcastle United being known as the world’s richest football club. A £300million deal to buy the Magpies was completed last October - with the Public Investment Fund of Saudi Arabia acquiring an 80% stake.
In an exclusive interview with the Daily Mail, the former owner admits to feeling ‘hope’ that United may finally win a trophy but remains sceptical about state-backed ownership. Hall has called for the ‘powers that be’ to legislate English football amid government approval for an independent regulator.
Following the fan-led review in the aftermath of the European Super League fiasco, proposals to hand governance of the game to an independent body were announced this week and should come into effect by 2024. Ex-Magpies chairman Hall - who saved the club from bankruptcy and relegation to the third tier in 1992 - believes more needs to be done and wants restrictions on dubious foreign ownership.
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