A trusted source has weighed in on speculation Newcastle’s Saudi Arabian owners could ditch the club in favour of launching a bid to buy Man Utd.
PIF completed their purchase of the Magpies in October 2021 alongside Amanda Staveley and Jamie Reuben, making the Tyneside club the wealthiest in the world.
Stories have circulated suggesting that given the Glazers’ recent decision to sell Man Utd, PIF could be interested in a takeover bid.
That would be an incredibly bitter pill to swallow for everyone involved at Newcastle, though according to CBS Sports reporter Ben Jacobs, their fears have been allayed.
Responding to the speculation on Twitter, Jacobs tweeted: “There is no possibility PIF will ditch Newcastle to try and buy [Man Utd]”
“Saudi Sports Minister Prince Abdulaziz bin Turki Al-Faisal has said any KSA interest would come from the private sector. Should it materialise it will then be ‘supported’ by government entities.
“Newcastle chair Yasir Al-Rumayyan sees huge earning potential at [Newcastle]. Like Liverpool and Man Utd, Newcastle have used the Chelsea sale price as a yardstick. PIF believe their £305m purchase was a bargain, especially given the progress the club have made.
“If Newcastle qualify for the Champions League the club value will have at least doubled in less than two years. And there are some big commercial deals to come, too.”
Where did the Newcastle sale rumours come from?
The speculation regarding a Newcastle sale arose after Simon Chadwick, a professor of sport and geopolitical economy at SKEMA Business School, suggested PIF may be tempted to buy either Man Utd or Liverpool.
Chadwick explained PIF tried to purchase Man United in 2019, so they could be interested in trying again now they are back on the market.
“The opportunistic purchase of Newcastle, I think, was a consequence of being kicked back by Manchester United in the first place,” Chadwick told the Athletic.
“There probably will be a certain amount of disbelief amongst Saudi officials having bought Newcastle when they really wanted to buy Manchester United. They are now in a position where they could potentially buy Manchester United.
“I might be going out on a bit of a limb here, but it is not entirely inconceivable that they could dispose of Newcastle and buy Manchester United.”
The claim caused panic among Toon supporters online, with the worrying claims in contrast to their excellent form on the pitch.
However, the St. James’ Park faithful need not be concerned, as the Saudi Sports Minister has now made it clear buying Man Utd is out of the question, as referred to by Jacobs.
So, Newcastle fans can go back to enjoying being third in the league table and four points ahead of Man Utd
Also, with the club’s vast resources, you can expect some new faces at St James’ Park in January.
The Red Devils, on the other hand, remain one of the biggest clubs in the world in terms of global outreach, so are still a great investment opportunity.
Although, there’s no doubt any future buyers would face a host of issues to deal with.
Old Trafford is in desperate need of renovation, the club have an eye-watering net debt of £514.9m and the team could probably do with some top-quality reinforcements, too.
Whoever does opt to buy the Red Devils from the Glazers will have to put their money where their mouth is.