NEWCASTLE’S Saudi owners will NOT foot the entire bill of a new stadium, according to reports.
The Toon’s mega-wealthy chiefs have been plotting ways in which to increase their stadium capacity from the current 52,264.
Newcastle want to increase their stadium capacity[/caption]
A new Leazes Park build has been discussed[/caption]
A £3bn new stadium built on nearby Leazes Park has been discussed, while a redevelopment of their current St James’ Park home is also under consideration.
Newcastle‘s Saudi Public Investment Fund (PIF) owners are believed to have more than £900bn in assets, and it was expected that they, alongside minority owners the Reuben brothers, would pay for the Toon’s new stadium in its entirety.
But according to the Mail, this will not be the case.
They claim that Newcastle chiefs are looking to secure finance in order to partially fund the build.
The Saudi PIF and Reuben brothers could potentially fund half the stadium, with the other half being taken out in loans.
Loan debt would therefore belong to the club, not the PIF.
Money spent on infrastructure is not taken into account within PSR rules.
So theoretically the PIF can invest as much as they like in the project without falling foul of Prem regulations.
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Newcastle bosses want to increase their stadium capacity to around 65,000.
There is also an expectation that their new home can become a multi-purpose venue – like Tottenham’s ground.
Tottenham Hotspur Stadium hosts NFL and rugby matches every year, in addition to high-profile concerts including the likes of Beyonce and Kendrick Lamar.
Newcastle are also keen to retain their famous atmosphere, with fans offering a reminder of how deafening St James’ Park can be during their side’s recent Champions League clash with Barcelona.
