Kieran Maguire names three areas Newcastle will splash the cash after new Staveley promise
“Medical, training and development facilities” at Newcastle United have gone to ruin in recent years – that all changes now.
So says finance guru Kieran Maguire, speaking exclusively to Football Insider about the extraordinary PCP Capital Partners takeover on Tyneside.
The Premier League gave the green light for former owner Mike Ashely to sell the club to the Saudi PIF-led consortium for £305million on 7 October.
Unlike the new transfer budget, which will be drawn up in accordance with profit-and-loss statutes, infrastructure costs are exempt from FFP.
Financier Amanda Staveley, who is now on the board at St James’, told Sky Sports the new owners “want to invest at every level”.
And new-money Newcastle will pay through the nose to upgrade their dilapidated facilities, predicts Maguire.
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“Newcastle’s infrastructure spend over the past decade is minuscule,” he told Football Insider correspondent Adam Williams.
“They have significantly fallen behind other clubs in the way they look after their key assets in the form of players.
“Medical facilities, training facilities, development facilities, they’ve all fallen into complete disrepair in recent times.
“Mike Ashley’s approach has been the same as someone who is selling a car. You don’t go out and get all four tyres replaced before the sale.
“He has been trying to spend the bare minimum he can get away with for as long as he has been trying to sell the club, which is quite a few years.
“Newcastle’s facilities have gone from okay to poor. It’s the same at the ground. That, of course, will all change from here.”