The Magpies, popularly known as Newcastle United, has emerged as the richest club in the English Premier League.
This is coming after Saudi Arabia’s Public Investment Fund, PIF, took over the club.
Newcastle now stands ahead of Chelsea, Manchester City, Arsenal and Manchester United as the wealthiest club in League.
The announcement of the takeover saw supporters of the club celebrate after Mike Ashley’s 14-year ownership.
Ashley sold his 80 per cent share of the club to PIF for £305million, with the Reuben Brothers and Amanda Staveley each owning 10 per cent.
Below are the top five richest clubs in the Premier League:
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)
Source: Naija News