For the so-called richest club in the world, Newcastle United have flown surprisingly under the radar for the majority of the 12 months they have spent under Saudi Arabian ownership. There have been no outrageous signings, no impatient firing of a manager and a distinct lack of hyperbole from the club's hierarchy.
The Gulf state's Public Investment Fund (PIF), which is chaired by Crown Prince Mohammed Bin Salman and has estimated assets of nearly £500 billion, owns 80% of the club. Private equity firm Reuben Brothers has a 10% stake, and British businesswoman Amanda Staveley also has 10% for her role in brokering the deal.
But aside from the ill-judged and provocative decision this summer to adopt a third kit in the green-and-white colours of Saudi Arabia -- adding weight to claims that the club has greater connections to the country than just being backed financially -- it has all been unexpectedly sensible at St James' Park.
That may suit the ownership group who, having seen their initial attempt to buy the club in August 2020 rejected by the Premier League due to concerns over Saudi Arabia's human rights record and accusations of TV piracy relating to the league's broadcasting partners in the region, perhaps misjudged the levels of scrutiny that the country would face after acquiring a major English team.
The Premier League sought assurances that Saudi regime would not directly control the club before sanctioning the takeover. But as Newcastle evolve into a team capable of securing a top-10 finish, and maybe higher, under manager Eddie Howe, the spotlight is only likely to intensify after a year spent in relative shade.
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Newcastle's ambition to challenge for major honours and return to the Champions League for the first time since 2003-04 has been made clear by the new owners, with Staveley saying at the Football Writers' Association Awards in March: "We think Newcastle can go to the top of the Premier League and the top of the Champions League."
It is only when Newcastle close in on those objectives that their owners, the money behind the club and the regime which funds it, will be more of a constant talking point.
But with Sunday's visit to Manchester United, Newcastle begin a run of fixtures ahead of the World Cup shutdown that will tell us how close they are to becoming the club that their owners want them to be.
Before the Premier League halts for the World Cup on Nov. 13, Howe's team are due to face United, Tottenham and Chelsea -- three clubs with Champions League ambitions this season who are all still capable of beating Newcastle to transfer targets, regardless of their financial power.
So far this season, Newcastle have drawn 3-3 with Manchester City and lost 2-1 to Liverpool, so they have yet to claim a breakthrough win against the teams they aspire to eclipse. But Newcastle are unquestionably making steady progress under Howe, who has bolstered the weak squad he inherited with eight new arrivals this summer at a cost of £215 million, including £58m club-record signing Alexander Isak from Real Sociedad.
If the Premier League began on Jan. 1 this year, Newcastle would be in fifth position -- ahead of both Chelsea (6th) and Man United (7th) -- and the transformation from a club seemingly destined for relegation a year ago to one now occupying a Europa League spot has been testament to Howe's managerial talents, which earned him a new long-term contract in August.
But Newcastle need to kick on and land a blow on the teams they are about to face. For all their progress in recent months, Newcastle sit in sixth position having won just three Premier League games this season: against Nottingham Forest, Fulham and Brentford. They are proving hard to beat -- only a stoppage-time goal at Anfield secured a win for Liverpool on Aug. 31 -- have only lost once and have scored nine goals in their last two games, but they are also drawing too much (five from nine games so far) to be serious contenders for European qualification.
The January transfer window will present another opportunity to improve the squad and add to the smart signings of Kieran Trippier, Bruno Guimaraes and Isak. But if they can go into January having beaten one of the so-called Big Six and still in contention for Europe, then Newcastle's development will gather pace.
With all the resources at their disposal and the likelihood of increased sponsorship packages and a potential naming rights deal for the St James' Park stadium, Newcastle will compete for better players, such as Everton's Anthony Gordon, with each passing window. Right now, their top targets will still favour joining the heavyweight clubs in London, Manchester and Liverpool, so the challenge that Howe must address is to deliver the results that will make Newcastle a more attractive proposition sooner rather than later.
Newcastle and their owners can't continue to fly under the radar, especially if they start to win big.