In breaking news following the Tyne-Wear derby defeat at the hands of Sunderland in St. James’ Park, Richard Keys reported that Newcastle United’s Saudi owners could be preparing to sell the club shortly.
Saudi Arabia’s Public Investment Fund completed a £305million takeover in 2021, ending Mike Ashley’s 14-year tenure and bringing hope to Tyneside.
It’s fair to say that PIF did more than enough to at least paint some bright strokes in Newcastle’s canvas, with the Magpies winning last season’s EFL Cup and Eddie Howe returning the team to the Champions League in two of his five seasons, including this one, in charge.
Despite a record revenue in 2023–24, profit and sustainability rules have limited spending in the transfer market and added challenges to the club. Howe keeps repeating how he’s struggled to strengthen the squad because of that—although he surely burnt cash last summer to then not even use his incoming transfers—and how the PSR limitations make it hard to be consistent and turn into a steady top-end Premier League team.
Keys claimed on his blog that PIF may already be considering an exit from Tyneside.
“Another whisper I picked up recently – and I don’t think this will come as a surprise to anybody – I’m told the Saudis are looking to sell Newcastle,” Keys said. “Regulars know I’ve been saying for some time the project was over. Apparently, there are interested parties, but the Saudis want £1b. £500m is nearer the mark.”
Keys framed the information as a “whisper,” mind you, without naming any specific bidders.
A potential sale could impact long-term plans previously outlined by chief executive David Hopkinson, including his ambitious plot of becoming one of the world’s leading clubs by 2030… while the club hasn’t even announced any plans for what to do with SJP or a new stadium. Go figure.
Newcastle face the likely prospect of missing European football altogether next season after exits from the FA Cup and Champions League. According to the report, Howe wishes to remain in charge, but expectations will rise for a return to top-five contention next season.