Finance guru: Newcastle United owners preparing ‘huge’ bid as £22m-a-year terms agreed
The Newcastle United owners likely have their eyes on a “huge” bid to bring the World Cup to Saudi Arabia.
That is the view of finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about the the Public Investment Fund’s ambitions in wider football.
The PIF completed a £305million buyout of Newcastle in October last year with the promise of turning them into a global force.
Sport Business reported last Wednesday (24 August) that PIF-finance property developer Roshn has now agreed a £21.7m-a-year deal to sponsor the Saudi Progesional League for the next five years.
Plumley examined PIF’s plans in the world of football and how the takeover of the Magpies could be a gateway to bringing the World Cup to Saudi.
“They will be looking to use Newcastle as leverage to grow the appeal of that league domestically and globally,” the Sheffield Hallam University expert told Football Insider’s Adam Williams.
“We have already seen Newcastle do a training camp in Saudi, for example.
“The Saudi league is fifth on the ranking list in the Asian confederation. It is in a better position than Qatar and the UAE in the Gulf region. I think we will see them push even further here.
“You would expect to see a Saudi World Cup bid in the future, for sure. That is obviously a huge flagship for a country like theirs.
“Owning a Premier League football club and having that influence means they can use them as leverage.
“Externally, they can increase the money coming in through title sponsorships like this and broadcasting deals etcetera.”
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