Newcastle unites for development as £300m deal completes

Newcastle United’s new owners have set their sights on winning big trophies, but big development plans could also be on the horizon. The consortium, which completed the £300m deal to buy the club yesterday, is led by Saudi Arabia’s Public Investment Fund and includes financier Amanda Staveley and billionaire property developers Simon and David Reuben. The new owners have said they want the Magpies to be “regularly competing for major trophies”, with ambitions to become “as big as Manchester City and Paris Saint Germain”. A new training ground and enhanced academy are expected to be among the early priorities, and hundreds of millions of pounds is in line to be invested in wider community and regional regeneration projects in the North East. Further development is expected. The Times (£) The FT (£) The Guardian The Telegraph (£)