Breaking News

​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.

No comments