Newcastle United have been taken over by Saudi Arabia’s Public Investment Fund, PIF, meaning the Magpies now have the richest owners in the English Premier League.
Newcastle is now ahead of the likes of Chelsea, Manchester City, Arsenal and Manchester United in terms of the wealthiest club in the Premier League, Mirror reports.
Newcastle supporters celebrated into the night on Thursday after Mike Ashley’s 14-year ownership of the club came to an end as PIF purchased the club for £305million.
Saudi Arabia’s Public Investment Fund (PIF) has purchased an 80 per cent share in the Magpies, with the Reuben Brothers and Amanda Staveley each owning 10 per cent.
Below is the top five richest clubs in Premier League currently;
1. Newcastle – Saudi Public Investment Fund (£320bn)
2. Manchester City – Sheikh Mansour (£22.9bn)
3. Chelsea – Roman Abramovich (£9.6bn)
4. Arsenal – Stan Kroenke (£6.35bn)
5. Aston Villa – Nassef Sawiris (£5.3bn)
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