New Newcastle owners target title within 10 years

Saudi-led ownership takes over Premier League club after paying £300 million

LONDON:

Newcastle United director Amanda Staveley on Thursday said the club's new Saudi-led ownership aims to win the Premier League within 10 years after a £300 million ($408 million) takeover.

A consortium headed by Saudi Arabia's Public Investment Fund passed the Premier League's owners' and directors' test to become the club's new proprietors alongside Staveley's investment firm PCP Capital Partners and RB Sports & Media.

The move ended the trophyless 14-year ownership of the club by billionaire retail tycoon Mike Ashley, who is widely disliked by Newcastle supporters.

Asked about her vision for Newcastle over the next five to 10 years, Staveley told Sky Sports: "Newcastle United deserves to be top of the Premier League. It will take time, but we will get there."

The Magpies are one of England's best-supported clubs but have not won a major domestic trophy since 1955.

Staveley sought to temper expectations about Newcastle's immediate prospects as fans and former players dreamed about a brighter cash-fuelled future.

"We want to be great custodians of this club," the British financier added. "What we don't want to be in danger of is over-promising.

"Newcastle is the best team in the world and we want to see it get those trophies, top of the Premier League, in Europe. To get trophies means investment, patience, time."

The 48-year-old was tight-lipped about the future of manager Steve Bruce, with many Newcastle fans calling for his removal.

"I'm not able to talk about anything as to players or managers. I did speak to the manager and we look forward to speaking to him over the next few days.

"We're very supportive of Steve. What we're going to do is not talk about managers or what big signings we can make," she said.

"We're going to review the football operations, the commercial side, and come back and make some decisions."

Newcastle's next match is a home Premier League fixture against Tottenham on October 17.

The club are second from bottom of the table with three points and no wins from their opening seven league games.