Newcastle fans who reckon their new owners are going to buy them the Premier League champions status may end up disappointed while Karren Brady suggests the takeover still faces serious resistance.
The Saudi Arabia Public Investiment Fund is essentially a fund to bankroll the middle east country when the oil runs out; they are diversifying their investments to get returns form their oil money for years to come.
This is no vanity project like Manchester City or Chelsea but a business investment from which they expect a profit .
The chances of them spending billions on Newcastle are slim which is why they bought a club for £305m rather than go major for a top six club.
For those who are up in arms about the involvement of the Publci Investment Fund, it should be pointed out that the same fund own large chunks of Disney, Facebook and Uber with western capitalism and government bot recognising a problem in moral terms!
West Ham Vice Chairman has waded into the debate speaking in her football column in The Sun,
She claims:
“I am sure he (Mike Ashley) was just as jubilant as the supporters to be out of there.”
“I suspect seeing off Ashley and welcoming an owner with a £320billion fortune may mean that day never comes for them.
“But what the rest of the Premier League, the football authorities and the Crouch review will make of it . . . well, that day will come, I’m sure of it.”
