The truth behind Newcastle United owner Mike Ashley’s PIF and its summer spending spree in Saudi Arabia has been uncovered. The amount spent by Newcastle United’s owners on the Saudi Pro League during their summer spending spree has been disclosed.
According to FIFA, Saudi teams spent a remarkable £701 million during the past transfer window to bring in top-tier players from outside.
The expenditure was mostly driven by Al Hilal, Al Ittihad, Al Ahli, and Al Nassr, which were acquired by the Public Investment Fund (PIF) earlier this year.
PIF also owns Newcastle United, but the Premier League club’s dreams for a comparable investment will never come true due to Financial Fair Play laws.
Significantly, there is no Financial Fair Play in the Saudi Pro League, allowing the investment fund to recruit some of Europe’s best football stars. Cristiano Ronaldo joined Al Nassr from Manchester United in January 2023. In the summer, he was joined by Neymar, Karim Benzema, Riyad Mahrez, Ruben Neves, and Sadio Mane. Allan Saint-Maximin, a Newcastle United fan favorite, was sold to Al Ahli for £22 million.
However, it has been reported that PIF would shift its focus after a “aggressive” summer transfer window.
The league’s director of football, Michael Emenalo, who is also in charge of Saudi Arabia’s Player Acquisition Centre for Excellence (PACE), believes the winter transfer window will be different.
“I’m hoping (the January transfer window) is not very busy, because I think the job that was done has been quite interesting and aggressive, and most of the clubs, I believe, have what they need,” said the former technical director at Chelsea. “And hopefully the attention will now turn to work within the training facilities to improve these players and to allow the time to adapt and perform.”
Despite this, the world’s best stars, including Paris Saint-Germain’s Kylian Mbappe and Liverpool’s Mohamed Salah, continue to be linked to the Middle East.
Despite his desire to focus on other things, Emenalo concedes that the league will continue to attract the top players in the globe.
“Now, whatever additional improvement that we need to do for any club, with time on our hands and preparation, we believe will be additions of the highest level,” he went on to say.
“We will continue to support and to see every opportunity we have to bring more talented individuals that want to come to the Kingdom of Saudi Arabia that is open for business.”
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