Can Newcastle United be the new Manchester City? What is Saudi PIF?
The news of Newcastle United getting new owners has stormed the whole world with memes and fear. The fans of 2021 know what a change of management can do to a club. The Manchester United fans are dying for it but they won’t get it and the Arsenal owner doesn’t even bother replying to the fans. Newcastle United may be under the biggest change in the history of this club.
Unlike Manchester City, the Newcastle side had experienced more success without any foreign help. Newcastle was founded 12 years (1892) after the foundation of Manchester City (1880). They lifted more titles than them in the past and were considered a far bigger club than City.
The takeover of Man City by the Dubai businessman changed the situation for them and then the glory years followed under the guidance of Pep Guardiola. If not for this change then Newcastle might still have more Premier League titles than Manchester City.
If a team that was less famous with no trophies for almost 3 decades can be the leader in 2021 then it won’t be too difficult for Newcastle to do the same and maybe better. To understand the depth of the situation let us first know how rich the PIF (Saudi Public Investment Fund) is.
Allan Saint-Maximin: “It’s difficult to believe what’s happened at Newcastle - we are now really rich in the PL. Everyone knows we’re not in the right place but we deserve this. We are under pressure - we have to do everything to stay in the league.” @asaintmaximin 🎥 @JonPijnen pic.twitter.com/eM1rxnlKxI— Keith Downie (@SkySports_Keith) October 21, 2021
How rich is Saudi Public Investment Fund (PIF)?
The total wealth of all the Premier League clubs combined can only make up 20-25% of the money the Saudi Fund possess. The estimated value is around 320 Billion Pounds. People tease Man City fans (Oil Money) because of the Shaikh Mansour takeover while he possesses only 17 Billion Pounds.
Newcastle United can reach the same level of heights as Manchester City or go far and even win a Champions League in future. The club will get massive funding in the coming years and maybe they can push Tottenham or Arsenal out of the big 6 in the upcoming years.
What is the Saudi Public Investment Fund?
It is the sovereign wealth fund of Saudi Arabia to save money made from many businesses including money from oil. We know that oil is a non-renewable energy resource and it will end in future. The Saudi government does not want to rely on Oil money as their main source of income and so they invest their money in big firms.
The buying of Newcastle United is clearly the biggest highlight for this organization.
Some companies where the Saudi PIF have invested are Facebook, Disney, Uber, Starbucks and the Bank Of America. Name any organization and I can guarantee you that they can either the whole company or a part of it.
The managers, players and owners of the current Premier League clubs have criticized this move as the organization is accused of many bad things. Some people even think of this move as disrespect to the spirit of the English league.
The Kingdom Of Saudi Arabia has assured the Premier League that they won’t have any control over Newcastle United.
One of the worse allegations in the Saudi Kingdom is their strict and partial laws on small minority groups. They are least tolerant on the LGBTQ+ issue and they still follow many of their religious rulings. The Saudi Government is often blamed for the killing of Jamal Khashoggi.
All these are serious problems for them in the United Kingdom.
Wouldn't it be something if @CPFC fans and @OfficialBHAFC fans held a temporary truce in hostilities, so that the Holmesdale Fanatics can loan their PIF banner to Brighton for the Newcastle game on November 6th?— Another Angry Voice (@Angry_Voice) October 26, 2021
Unity against the greater evil pic.twitter.com/7UZVSvd7C4
People should not judge this deal as it started with Chelsea and Manchester City while they are already a little late to do it. The Premier League is a garden for the rich and with their ever-increasing fame and crazes, such major changes will likely be too frequent in the coming years.