Newcastle United fans can finally dream of better days ahead, because the club has a new owner.
It comes after the Premier League approved the 305 million pounds takeover by a Saudi Arabian consortium.
Photo via PA
This brings to an end Mike Ashley’s highly-controversial 14-year spell as Magpies owner, during which he fought with players and managers, tried to change the name of the club’s stadium and made other questionable decisions that seemed to benefit himself, rather than the club.
So who are the new owners?
The consortium is led by the Public Investment Fund (PIF) of Saudi Arabia, which is providing 80% of the funding. It is chaired by Saudi Crown Prince Mohammed bin Salman.
PIF has assets of around 250 billion pounds – which indirectly makes Newcastle one of the richest clubs in the world.
Photo via PA
Understandably, Magpies supporters were overjoyed at the news, with thousands of them turning up at St. James Park to celebrate.
The also flooded social media with hilarious memes, as they fantasized about all the possibilities now that they will have a massive budget to spend on players.
Photo via TrollFootballEU
Photo via Trolling Football
Memes aside, though, the new ownership does give Newcastle a very real opportunity to turn their fortunes around.
The Magpies’ last major domestic trophy was the 1955 FA Cup. With the money now at their disposal, perhaps they can start planning for the Premiership or even Champions League title somewhere in the near future.
By: Nicholas Darren John