A bid of 300 million pounds had been settled for Newcastle by the PIF which allows the Saudi Arabian owners be given ownership to about 80% of the football club. This can have a drastic effect to Newcastle and even replace arsenal as one of the fierce clubs that can contend as the big 6 as so they call it. The club currently has 190 million pounds to spend in the transfer window and rumours have it that Manchester united, and Gareth bale are being targeted by the club which if successfully bring the club a respect in terms of challenge to their name.
Could Newcastle the relegation battling team compete with the big six to dominate the premier league in the next few years? Although the club now has the money aspect covered, they still have to change in many different ways, one of those critical ways is the mindset and environment of the club which really needs to be upgraded if they want to be a driving force with the big teams
What is PIF?
Established in 1971, the public investment fund of Saudi Arabia It is the sovereign wealth fund of Saudi Arabia. It has the largest sovereign wealth fund in the world with 500 billion assets. The people responsible for the investment of the club was prince Mohammed bin Salman(son of Saudi Arabia king) and also Yasir O.AI-Rumayyan who is the managing director and also board member of PIF.