City Of London

Newcastle United Losses Deepen After Saudi-Led Spending Spree

Results published Friday offer first glimpse into financials
Saudi-led consortium took over Newcastle in Oct. 2021

Fans show their support prior to the Premier League match between Newcastle United and Wolverhampton Wanderers at St. James Park in Newcastle upon Tyne, England, on March 12. — Fans show their support prior to the Premier League match between Newcastle United and Wolverhampton Wanderers at St. James Park in Newcastle upon Tyne, England, on March 12.
Photographer: Michael Regan/Getty Images

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By David Hellier

March 31, 2023 at 4:55 PM UTC

This article is for subscribers only.

Losses at Newcastle United FC widened after a Saudi Arabia-controlled consortium took control of the English Premier League football club and boosted spending on star players.

Results published on Friday offer the first glimpse into the financials of the club following its £305 million ($377 million) sale to Saudi Arabia’s Public Investment Fund in October 2021.