Newcastle United-Saudi takeover: A look at top 10 richest owners in football
- A Saudi-led consortium completed a £300 million takeover of Newcastle United on Thursday
- Saudi's Public Investment Fund is worth over 15 times more than Manchester City owner Sheikh Mansour
- It is also worth more than the Qatar Investment Authority, which owns Paris Saint-Germain
Newcastle United have become one of the world richest football clubs after a Saudi-led consortium completed their takeover of the Premier League side on Thursday. The kingdom’s Public Investment Fund (PIF) has acquired a 100% stake at the club for a reported £300 millon to end an 18-month saga over the club’s ownership as well as billionaire Mike Ashley’s troubled 14 years as owner.
The Saudi-led consortium were looking to buy the club last year, but their proposed offer was rejected over concerns regarding the kingdom's leadership's control over the club - given its history with human rights violations. Another major hurdle in the takeover was a dispute with beIN Sports, one of the two primary broadcasters for the Premier League.
The Qatar-based network was banned from broadcasting in Saudi Arabia for the last four-and-a-half years over a diplomatic issue between the two countries. However, the issue was resolved on Wednesday night, clearing the way for the final formalities to be wrapped up.
This is the latest in a string of high-profile takeovers of European clubs in the last two decades, which has seen huge injections of cash into infrastructure and player transfers which has driven the narrative of modern football.
Clubs like Chelsea, Manchester City, Paris Saint Germain are among the biggest to have been acquired by oligarchs, oil-rich states or other billionaires as the ultra-rich turn to football’s increasing allure and lucrative returns.
And the Saudi consortium, led by British businesswoman Amanda Staveley, is miles ahead of the other owners in terms of net worth. Check out the full list here:
10. Gao Guangchang – Wolverhampton Wanderers, $9.7 billion
9. Zhang Jindang – Inter Milan, $11.5 billion
8. Stan Kroenke – Arsenal, $12.6 billion
7. Phillip Anschutz – LA Galaxy, $15 billion
6. Roman Abramovic – Chelsea, $19.5 billion
5. Andrea Agnelli – Juventus, $26 billion
4. Dietrich Mateschitz – RB Leipzig and RB Salzburg, $29 billion
3. Sheikh Mansour – Manchester City, $39 billion
2. Qatar Investment Authority – Paris Saint-Germain, $410 billion
1. Saudi Public Investment Fund – Newcastle United, $596 billion