Former Chelsea defender Jason Cundy has warned Arsenal and Tottenham over their Champions League hopes following Newcastle United’s completed takeover.
The Magpies confirmed on Thursday evening that a Saudi Arabia-backed consortium – called Public Investment Fund (PIF) – has completed a £300million takeover of the club.
The club released a statement on their website, saying: “An investment group led by the Public Investment Fund (PIF), and also comprising PCP Capital Partners and RB Sports & Media (the “Investment Group”), has completed the acquisition of 100% of Newcastle United Limited and Newcastle United Football Club Limited (“Newcastle United” or the “Club”) from St. James Holdings Limited.
“All requisite approvals have been obtained from the English Premier League and the acquisition was completed on 7 October 2021.
“The Investment Group is comprised of long-term, patient investors who have every confidence in the future success of the Club.
“Today’s announcement is the conclusion of a thorough and detailed process that has allowed the Investment Group to arrive at a deal that benefits all stakeholders and will leave Newcastle United well-placed to pursue a clear, long-term strategy.”
Newcastle are now set to become the wealthiest club in the Premier League – by some way, too – and this will undoubtedly have a huge impact on the rest of the division, with the Magpies expected to spend huge money on adding to their squad over the next few years.
He said: “This is a new kid on the block trying to muscle in on the richest clubs in England – Chelsea, Manchester City, Liverpool and Man United.
“Now there’s a new kid on the block in Newcastle. They’re coming in to shake-up football and get into the Champions League football and win the Premier League, that’s what their doing.
“Roman Abramovich is a billionaire, he’s not at Chelsea to make money he’s there to deliver trophies and with Man City, it’s exactly the same.
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“They do not care what they spend! Everton do, Spurs are different, Arsenal are very different, but this is a different animal.”
The news of the Tyneside-based outfit finally being taken over comes as a huge relief to the large majority of the club’s supporters, who have been protesting against Mike Ashley throughout his controversial 14-year tenure at St. James’ Park.