Saudi Arabian sports business expert Professor Simon Chadwick has poured cold water on recent Newcastle takeover speculation, as reported by the Shields Gazette.
The Guardian reported in January that a takeover of the Magpies, led by businesswoman Amanda Staveley and backed by Saudi Arabia’s Crown Prince Mohammed bin Salman, was “90 per cent certain”.
Since then, there has been talk from Mirror Sport of Bin Salman’s interest in Manchester United outweighing that of his interest in Newcastle, which has seen no progress made in takeover talks.
Talking to the Shields Gazette, Professor Chadwick revealed that a takeover bid backed by the Saudi Group doesn’t make sense, and is one that he very much doubts would actually take place. Chadwick said:
I am led to believe there is considerably less substance to this story than has been made out. And it seems like most of the noise is not coming from the club, or Mike Ashley.
There is absolutely nothing at all with regards to Saudi political policy to suggest there is any intention to buy a football club.
They want to invest in infrastructure, staging events and technological advances within Saudi, not have a football club in another country the people can be proud of.
Last week I was in the sports ministry in Riyadh. I spoke to people in that building, as well as people who work in the same office block as PIF. And very few people had heard anything about this [supposed £340million offer].
The most common responses I got when talking about investing in Newcastle United was ‘I know nothing about it’ or ‘if we did invest, it would surely be in Manchester United’.
However, the Gazette claim to understand that progress of talks is indeed ongoing, although a deal is nowhere near being reached.
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While Professor Chadwick claims that it wouldn’t make sense for the Saudis to invest in Newcastle, it is clear to me at least to see why they might consider buying into the club.
Newcastle are considered to be and rightly so, one of the historic staples of English football, winning four top flight league titles and six FA Cups. Despite not having won a major domestic trophy since the 1950s, the club carries so much untapped potential that is waiting to be exploited by an owner willing to spend enough to compete.
Furthermore, Newcastle are a club that are supported heavily by the local people and if the Magpies are to succeed, the City of Newcastle upon Tyne will succeed, which could be appealing for a group looking to immerse themselves in football culture. With a large and frequently populated stadium to a die-hard fan base, there are plenty of appealing elements to Newcastle United.
