Saudi Led Consortium Buys Newcastle

Well, it is the news that Newcastle fans have been waiting for and a Saudi led consortium has finally closed the deal on buying Newcastle United. So the latest money bags in the Premier League are now Newcastle United.

And already the class of players that the club are targeting have stepped up a level. Players like Coutinho and Lautaro Martinez have been mentioned.

What this also means is that there is national pride at the ownership level. The Saudis wouldn't want to lose the UAE led consortium that owns Man City nor the American owned Man Utd.

This is like a whale entering the market and lifting asset prices. Expect premier league wages and transfer fees to go up a notch, as if they weren't already high.

Is it good for the league? Yes. Is it good for English football, I don't think so. It will be harder for home-grown players to get a kick but there's definitely going to be a wealth of talent and maybe some of that will diffuse to the English players.