It is nearly a year since the takeover of Newcastle United which has continued to worry and cause a stir amongst the biggest clubs in England and their fans.
Although the club is owned by PIF (Public Investment Fund of Saudi Arabia), the Magpies are essentially owned by Saudi Arabia as the ties between the two are very strong.
The money Newcastle can now spend could propel them towards the top of the league and they threaten to break up the six clubs who have a choke hold on the rest of the league.
These Premier League elite clubs have now proposed a new initiative and they will all be part of a Premier League meeting on Wednesday.
The meeting is supposed to look at plans on how to give extra funding to lower league clubs, with the government warning the Premier League that it must agree a deal whereby significantly more cash (hundreds of millions of pounds) is allowed to flow down to the lower leagues, or else the Premier League facing the prospect of being forced to do so by legislation if they don’t implement acceptable new funding.
The Times report that the EFL have made clear they want £250m more but the Premier League clubs plan to wait, as they want to see what will happen now there has been a change of Prime Minister and to see if there will be any changes regarding football – such as an independent regulator.
In addition to this, the Premier League elite clubs are looking to push forward a motion that would see restrictions on spending on transfers and wages for the first time, with clubs only allowed to spend a percentage of their income. This is a move that would stop Newcastle’s rise as they do not have the worldwide support compared to the likes of Manchester United and Liverpool.
It is a clear indication that these clubs are worried about the North-East club and any other club that could be taken over by a wealthy investor in the future.
