Today the club released a statement confirming that the owners, PIF, PCP Captial Partners and RB Sports and Media have put a further £70m investment into the club.
This isn’t money for transfers, this is purely to enable to the club to run better. This outlay brings their total investment into the club to over £450m which is absolutely astonishing given that they’ve had the keys for just over a year now.
Darren Eales, CEO of Newcastle United, said: “We are at the beginning of a long-term plan that aims to build a club that can compete consistently at the highest levels of English and European football.
“We need to develop the whole business, as well as the playing squad. And we need to do so while adhering to the Financial Fair Play rules. This additional investment further enables us to continue implementing the business plan.”
That quote was part of the club statement and while it doesn’t go into any detail as to what the money is for, it’s just encouraging to see that money is being pumped into the club to ensure that we can compete. While we sit high up in the league, the reality is, there’s now a strong chance of European qualification, well ahead of schedule, and that means that we need to move on to the next level quicker than anticipated.
The behind-the-scenes running of the club needs to be brought in line with those that are regularly in the top six of the league come may. There will also need to be significant investment made in the squad to ensure we can cope with the extra fixtures throughout the season.
Unlike when Mike Ashley kicked the doors of St James’ Park, wiped out the club’s debt and announced himself as our saviour, it seems our new owners are more than willing to back up their words with actions, unlike the aforementioned.