EPL: Newcastle to become richest club ahead of Man City, PSG after Saudi takeover

Newcastle will be, by some way, the richest team in world football, after a takeover by the Saudi Arabian Public Investment Fund worth a staggering £320billion, according to SportsMail.

The Premier League side will have the wealthiest owners globally, once the £300m Saudi takeover is signed off.

The takeover is expected to be announced imminently after the Gulf state settled its piracy dispute with Premier League broadcast partner, beIN Sports.

It will bring an end to Mike Ashley’s 14-year ownership of the Magpies.

Newcastle will be chaired by Crown Prince Mohammed bin Salman and governed by Yasir Al-Rumayyan.

The new owners will be richer than Manchester City’s owner, Sheikh Mansour, who has been the world’s richest owner at £23.3bn.

Mansour is the deputy prime minister of the United Arab Emirates and comes from the royal family of Abu Dhabi.

But once the Newcastle takeover is announced, the Magpies’ owners will be worth ten times more than Man City.

Paris Saint-Germain are also regarded as one of the world’s richest clubs with owners Qatar Sport Investments with chief Nasser Al-Khelaifi worth £6.5bn.