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​Newcastle set to take out huge £140m loan


Newcastle United have taken out a massive £140 million loan to spend on new players.

The Magpies, who are owned by a Saudi Arabia-backed consortium, have to work around Financial Fair Play when they improve their team and facilities.

According to The Sun, the club have negotiated with HSBC to open up a credit facility to allow them income to invest in the team.

The borrowing is secured against future earnings from TV rights and ticket sales.

Newcastle are hoping to build a team that can challenge for the Premier League in the next few years.

The owners have ambitions of eventually bringing the Champions League trophy back to St. James' Park.

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