Newcastle United co-owner makes Liverpool, Man City and Chelsea spending claim amid £250m spree
Newcastle United co-owner Jamie Reuben has discussed the club’s spending power compared to their Premier League rivals.
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Since the Public Investment Fund of Saudi Arabia, PCP Partners and RB Sports & Media acquired the club from Mike Ashley in October 2021, just over £250million has been spent on new players.
The £60m club-record signing of Alexander Isak, plus the arrivals of Matt Targett, Nick Pope, Sven Botman, Anthony Gordon and Harrison Ashby saw a total of around £155m spent last season. That amount was higher than Man City and Liverpool, but significantly lower than the whopping £540m Chelsea spent.
United’s finances will be bolstered by the return of Champions League football to St James’ Park next term but, as it stands, remain without a lucrative sponsorship deal, which limits their FFP allowance compared to their Premier League rivals.
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“You’ve seen the amount they’ve [other clubs] have spent... Financial Fair Play means we can’t do that just yet so we have to make sure our pound goes further a Manchester City, a Chelsea or a Liverpool,” Reuben told the Business of Sport podcast.
Newcastle are expected to confirm their new front-of-shirt sponsor in the coming days with Saudi events company Sela in talks over a £25million agreement.
“In order to meet Financial Fair Play which we’re adamant we’re going to do, we’re going to play by the rules,” Reuben added.
“We’re long-term investors, you need to invest in your stadium, you need to invest in your infrastructure, you need to invest in other non-footballing parts of your business to get the commercial revenue up in order to financially invest on the pitch and elevate your status which is a longer-term plan.”