Former Leeds United player David Norris believes that takeover of Newcastle United and the funds that they have available will be a bit of a blow for Leeds and other clubs also.
Newcastle United have been taken over by Saudi Arabia’s Public Investment Fund who will have a controlling stake of 80 per cent of the club, with the Reuben Brothers and broker Amanda Staveley splitting the remaining 20 per cent down the middle, as they will have 10 per cent each.
The deal according to the Telegraph was £305m to complete the takeover and whilst the club could spend £190m in the January transfer window without breaking any financial fair play rules, a separate Telegraph report suggests that the budget for the winter will be £50m.
Who will finish higher in the Premier League this season?
Leeds United
Newcastle United
Ex-professional player Norris believes that with such funds available it will be a blow to Leeds and other clubs alike, telling This is Futbol: “For Leeds and anyone else who had ambitions to be that team as well, I think that is a bit of a blow because with that type of money you just feel it’s inevitable.”
After a terrific first season back in the Premier League where they finished ninth, Leeds and Marcelo Bielsa looked to improve the squad this summer signing five players as Dan James, Jack Harrison, Junior Firpo, Lewis Bate and Kristoffer Klaesson all put pen to paper on deals with the Elland Road outfit.
And whilst Leeds have got ambition on the pitch with their terrific finish last season and new signings during the summer, they also have ambition off the field to, as they are looking to invest in the stadium and increase the capacity of Elland Road to 55,000 in the future [Leeds Live].