Newcastle United fans celebrated when Mike Ashley’s 14-year ownership of the English club came to an end.
There is no doubt that Newcastle is currently the richest club in England after it was purchased by the Saudi-backed consortium for £305m.
Saudi Arabia’s Public Investment Fund (PIF) purchased 80% of the club shares, while the Reuben Brothers and Amanda Staveley remained with 10% each.
We take a look at the top five richest clubs in the Premier League
1. Newcastle-Saudi Public Investment Fund (£320bn)
Thanks to the massive wealth of the PIF, the Magpies expect key investments, especially in players, to make the club competitive in Europe.
Newcastle United have already started to enjoy the fruits of the new ownership as they have already signed two players, namely Kieran Trippier and Chris Wood.
The PIF is chaired by Mohammed Salman, the Saudi crown prince. He is also the second most important person in Saudi Arabia, after the king. He not only serves as the country’s deputy prime minister but also the Minister of Defence.
2. Manchester City-Sheikh Mansour (£22.9bn)
Mansour is the deputy prime minister of the United Arab Emirates and one of the country’s many team owners.
The Magpies have now joined the likes of Manchester City and Paris Saint-Germain, but the two most high-profile examples have been Manchester City and PSG.
The sheikh owns an interest in Virgin Galactic and is the chairman of the International Petroleum Investment Company.
He bought Manchester City in 2008 when they were a mid-table team, and with his billions, he has turned them into one of the best teams in the world.
His fortune has allowed him to hire Pep Guardiola and a slew of other world-class players, allowing City to become Manchester’s most successful club in the last decade.
As a result, Mansour has hired Khaldoon Al Mubarak to manage the club on a daily basis, while his City Football Group continues to buy clubs all around the world.
3. Chelsea – Roman Abramovich (£9.6b)
In a rumored 15-minute conversation, football’s first high-profile billionaire, purchased Chelsea from Ken Bates in 2003.
Following the hiring of Jose Mourinho the following year, Chelsea became the dominant team in the Premier League thanks to the Russian’s riches.
The Blues have won silverware on a consistent basis, winning five league titles and the Champions League twice.
Chelsea FC cost Abramovich £140 million of his billions earned from the sale of previously Russian state-owned businesses he purchased after the Soviet Union fell apart.
4. Arsenal – Stan Kroenke (£6.35bn)
Arsenal’s divisive owner is seldom seen at the Emirates and has a tense rapport with the supporters.
Arsenal’s fortunes have deteriorated throughout his tenure, despite the fact that the team had previously won Premier League titles.
In 1974, Kroenke married Ann Walton, a Walmart heiress, and in 1983, he created the Kroenke Group, a real estate development corporation.
The American, who owns the NFL’s Los Angeles Rams and the NBA’s Denver Nuggets, originally invested in Arsenal in 2007 before acquiring a full stake in the club four years later.
5. Aston Villa – Nassef Sawiris (£5.3bn)
In July 2018, the Egyptian took over as owner from Tony Xia, and saw Villa gain promotion to the Premier League within a year.
Sawiris, who comes from one of Egypt’s wealthiest families, purchased a 55% controlling stake in the club.
His fortune comes from owning a slew of construction, engineering, and construction firms.
With nearly £200 million spent over the past two summers, Dean Smith has consolidated the Midlands team as a top-flight outfit once again.