Manchester United’s major shareholders the Glazer family will be only the ninth richest owners in the Premier League if Newcastle United’s take over deal goes through, according to The Mail.
The Saudi Arabian Public Investment Fund (PIF) is poised to take over the Magpies from Sports Direct tycoon Mike Ashley in a £300 million transaction.
The fund is reported to control assets of £320 billion, which would mean Newcastle’s owners are over 10 times richer than those of Manchester City if the sale is completed.
City’s owner Sheik Mansour is worth £23 billion according to the report, with Chelsea’s Roman Abramovic third on £9.6 billion and Arsenal’s Stan Kroenke fourth with £6.8 billion.
The Glazers are down in 9th place on a measly £3.6 billion, behind the owners of Wolves, Aston Villa, Leicester and Spurs.
Source: The Mail
Of course, having the richest owners does not make you the richest football club and the Red Devils still lead the field in that regard. The club was valued at £627.5 million in January, followed by City on £538.2 million and Liverpool on £533 million.
Newcastle’s potential new owners will not be able to simply buy their way to success as Manchester City’s did, either. Since Sheikh Mansour took over at the City of Manchester stadium in 2008, FIFA have introduced financial fair play (FFP) rules which prevent clubs from spending more than they earn.
These were only introduced in 2011/12 and in fact the Citizens have subsequently breached FFP rules, an offence that recently culminated in their two year ban from European competition.
FIFA’s FFP rules continue to provide strong protection for Manchester United, who have always been able to balance the books due to their strong fan base across the world and excellent commercial infrastructure.
This does not change the fact that the Newcastle take-over will make a huge difference to the club and could elevate them to top six candidates in a short space of time. However, it is unlikely that as a football club they will be able to consider themselves as rich as the likes of Manchester United for a very long time to come.
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