Saudi spending won’t compromise owners’ aims for Newcastle, says Mapgies CEO

Newcastle chief executive Darren Eales is convinced eye-watering Saudi Arabian investment in domestic football will not derail their mission on Tyneside.

The Gulf state’s Public Investment Fund, which owns an 80 per cent stake in the St James’ Park outfit, bought majority holdings in four of the nation’s biggest clubs – Al Nassr, Al Hilal, Al Ahli and Al Ittihad – in June, sparking a transfer flurry which has taken some of the game’s biggest names to the Saudi Pro League in return for vast pay packets.

Portuguese superstar Cristiano Ronaldo and French counterpart Karim Benzema are among those to have headed for the Middle East, while the Magpies have themselves benefited – to raised eyebrows in some quarters – with Allan Saint-Maximin’s move to Al-Ahli, having unlocked a Financial Fair Play conundrum with what is understood to have been a £30million cash injection.

As part of today’s announcement of the Sports Clubs Investment and Privatization Project, four Saudi clubs – Al Ittihad, Al Ahli, Al Nassr, and Al Hilal – have been transformed into companies, each of which is owned by #PIF and non-profit foundations for each club. pic.twitter.com/TNZcbIniUE

— Public Investment Fund (@PIF_en) June 5, 2023

Asked to explain the difference between that and the more modest approach adopted on Tyneside, where the total transfer spend over the four windows since the new owners took charge currently amounts to around £350million, Eales said: “An investment was made and Financial Fair Play is the regulation, so within those parameters everybody knew what the guard rails are in terms of what you can spend and how you can spend it.

“Our job is to try to now grow Newcastle United to where we want it to be within the regulations which