Breaking News

Staveley: Newcastle working to 15-year plan


Newcastle United's consortium of owners have a plan for the next 15 years.

The Magpies are owned by the Saudi Arabian Public Investment Fund.

Amanda Staveley, one of the co-owners fronting the project, has spoken about the group's long-term plans for the St. James' Park club.

Speaking at the Financial Times' Business of football summit, Staveley said: "We have put in £200m plus to date of new money since we've bought the club and we have a business plan based on a five, ten, 15 year timeline. Critical to that plan was making sure we had the right partners and PIF are very long-term partners."

She added: "Our consortium is a hybrid, PIF are long-term investors, (husband) Mehrdad (Ghodoussi) and I are not that wealthy. We're the poor partner and that helps govern a lot of the decisions."

On why they chose Newcastle, Staveley reflected: "When we looked at Newcastle we were very clear – prior to buying them – we wanted a club with a passionate fanbase. We got that.

"We also wanted a club we could buy affordably because we were also partners with PIF and they are effectively a pension fund, managing money for future generations."

No comments