Almost a year has passed since the acquisition of Newcastle United, which has continued to cause concern and stir among England’s biggest clubs and their fans.
Although the club is owned by PIF (Saudi Public Investment Fund), the Magpies are essentially owned by Saudi Arabia as the ties between the two are very strong.
The money Newcastle can now spend could propel them to the top of the league and threaten to split the six clubs that have stranglehold on the rest of the league.
These elite Premier League clubs have now proposed a new initiative and will all be part of a Premier League meeting on Wednesday.
The meeting is supposed to discuss plans on how to give additional funds to lower league clubs, with the government warning the Premier League that it must reach a deal allowing significantly more cash (hundreds million pounds). lower leagues, or the Premier League facing the prospect of being forced to do so by legislation if they do not implement acceptable new funding.
The Times reports that the EFL have made it clear that they want a further £250m but Premier League clubs plan to wait as they want to see what will happen now that there has been a change in Prime Minister and to see if there will be any change regarding to football, as an independent regulator.
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In addition to this, elite Premier League clubs are seeking to push through a motion that would see spending restrictions on transfers and wages for the first time, with clubs only allowed to spend a percentage of their income. This is a move that would stop Newcastle from rising as they do not have the global support compared to Manchester United and Liverpool.
It is a clear indication that these clubs are concerned about the North East club and any other club that may be taken over by a wealthy investor in the future.
