Sports

The World’s Richest Club Borrows To Make Signings

Richest club in the world applies for loan to make signings

Despite the fact that Newcastle United became the wealthiest club in the world during the previous season after being acquired by the Public Investment Fund (PIF) of Saudi Arabia, the English organization has now submitted an application for a loan to the international financial institution HSBC. This is so that there will be enough cash on hand to make the acquisitions that Eddie Howe wants to make before the start of the new season in the English premier league, which is drawing near.

A loan in the amount of 75 million British pounds has apparently been taken out by the North-East club in order to make it easier for the team to sign players during the summer transfer window. Timo Werner, who plays forward for Chelsea, and Memphis, who plays forward for Barcelona, are two of the many names that have been linked to the attempt to improve The Magpies’ attacking line. Other names, such as these, have also been mentioned.

READ ALSO: Barcelona Win The Race For Jules Kounde

PIF, who own an 80% stake in Newcastle after being one of the purchasers of the club for 300 million pounds last October, intends to repay the loan with the profits from the Premier League’s broadcasting of Newcastle matches during the following season, in addition to sales of tickets. PIF acquired an 80% stake in the club after being one of the purchasers of the club.

After acquiring Sven Botman for 37.5 million euros, Nick Pope for 10 million pounds, and making Matt Targett’s presence at the club permanent for 15 million pounds, The Toon are looking to strengthen their squad even further and develop into a team that is capable of competing for the higher places in the Premier League and, who knows, maybe one day the best prizes that world club football has to offer. Following these acquisitions, The Toon are looking to make Matt Targett’s presence at the club permanent for 15 million pounds.

Leave a Reply

Your email address will not be published.

Back to top button
Click to Chat!