Newcastle open to further investment from Saudi Arabia – Chief Executive

Newcastle chief executive Darren Eales has revealed the club is open to further investment from Saudi Arabia as they seek to build for a better future.

The Magpies, who are 80 percent backed by the Gulf state’s Public Investment Fund, last Friday celebrated a year under their new owners with significant progress on and off the pitch but with controversy over the source of much of the club’s wealth still raging Spotlight.

However, former Atlanta United President Eales, who has been charged with the task of growing the business and increasing its revenue streams, is confident his association with PIF could prove fruitful.

When asked if the club was open to sponsorship deals with Saudi companies, he said: “Absolutely. It would make sense in terms of some of the doors PIF could open. They invest in a number of countries around the world.

“I also think if you look at a country like Saudi Arabia with a young population – 36 million and counting – football is the number one sport and there is a certain natural affinity there in terms of the commercial value of a connection with Newcastle.

“For us we are looking globally. The reality is that the Premier League is the number one league in the world in all sports. It’s just incredible, its reach.

“The reality is we’re not like Manchester City when they had the takeover, or even Chelsea. We don’t have a blank sheet of paper to just spend whatever you want on.

“There are regulations, so we have to get from A to B intelligently.”

Amanda Staveley’s syndicate has already raised over £200m in the last two transfer windows.

Eales said: “Our vision is a stable top six club consistently fighting for trophies. We have to find a way to get there through the FFP and the challenges we have there.

“We want to reach our goal quickly, I can feel that. The owners are very interested in getting there, our fans are interested in it, I am interested in getting there, but it has to be sustainable.

We are not in a situation where the earnings are so high that we can go wrong on a large transfer.

Newcastle boss Darren Eales

“We’re in a situation where we really have to go full throttle with our signings. We’re not in a situation where the revenue is so high that we can go wrong on a large transfer.”

Eales admitted the summer window had proved challenging as he sold clubs aware of Newcastle’s spending power and Premier League rivals wary of helping them – “everyone tried it,” he said with a smile – but insisted the football world was excited about what was happening at St James Park.

He said: “I went to the ECA (European Club Association) meeting the other day. I don’t think anyone from Newcastle has been there for a number of years and the first thing they talk about when they come to me is the fans, the passion and the city.

“When you speak in the world of global football, people are really excited about what Newcastle can become.”

Growing interest in the Magpies has inevitably led to speculation about how St James’ could be expanded or even moved to a new venue, but Eales – who stressed the importance of fan involvement in such decisions – hinted that he would prefer to stay in Gallowgate.

He said: “This is where we want to be. I think the question is, “How are we trying to make this work?”.

“It’s a champagne problem because you’ve given away season tickets, as has happened in the past.” Newcastle open to further investment from Saudi Arabia – Chief Executive

Fry Electronics Team

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