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Newcastle United's new Saudi owners are officially the wealthiest in the Premier League.
That's according to a list compiled by Olbg of the richest sports club owners in the world, which has the new investors at St James' Park above the likes of Roman Abramovich, John W Henry and Manchester City's Sheikh Mansour.
What makes this feat all the more unbelievable is the fact that the Saudi Public Investment Fund's wealth is nearly £300 billion greater than that of Mansour, who for over a decade has been the richest owner in the top flight by some distance.
The magnitude of the Saudi's money is exemplified by the fact that the likes of Burnley, Norwich, Brentford and Watford are all worth under £100 million.
The full list reads as follows:
20. Brentford- Matthew Benham (£3 million)
19. Norwich- Delia Smith and Michael Wynn Jones (£23 million)
18. Burnley- Mike Garlick (£62 million)
17. Watford- Gino Pozza (£93 million)
16. Leeds United- Andrea Radrizzani (£344 million)
15. Brighton- Tony Bloom (£765 million)
14. West Ham United- David Sullivan and David Gold (£1.62 billion)
13. Everton- Farhad Moshiri (£1.9 billion)
12. Liverpool- John Henry (£2.14 billion)
11. Southampton- Gao Jisheng (£2.3 billion)
10. Leicester- Aiyawatt Srivaddhanaprabha (£2.9 billion)
9. Crystal Palace- Joshua Harris (£3.36 billion)
8- Manchester United- The Glazers (£3.5 billion)
7- Tottenham Hotspur- Joe Lewis (£3.6 billion)
6- Wolves- Guo Guangchang (£4.5 billion)
5- Aston Villa- Nassef Sawiris (£5.3 billion)
4- Arsenal- Stan Kroenke (£6.35 billion)
3- Chelsea- Roman Abramovich (£9.6 billion)
2- Manchester City- Sheikh Mansour (£22.9 billion)
1- Newcastle United- Saudi Public Investment Fund (£320 billion)
Understandably, this news has excited fans of The Toon across the world. Supporters were spotted celebrating outside the club's famous stadium earlier this evening, chanting 'we've got our club back' after Mike Ashley's departure. The Sports Direct owner had been in charge of The Magpies since 2007 and oversaw numerous catastrophic managerial appointments and signings, as well as two relegations.
Whilst the jubilation of Newcastle fans is understandable, they mustn't expect success straight away. In the case of Mansour and Manchester City, it took four years before they lifted the Premier League title, courtesy of that famous last minute Sergio Agüero strike against QPR.
That said, those behind the takeover have stressed they intend to compete for the club's first major honours since 1955.
"This is a long-term investment," new director Amanda Staveley said in an official statement on the club's website. "We are excited about the future prospects for Newcastle United.
"We intend to instil a united philosophy across the Club, establish a clear purpose, and help provide leadership that will allow Newcastle United to go on to big achievements over the long term.
"Our ambition is aligned with the fans - to create a consistently successful team that's regularly competing for major trophies and generates pride across the globe."
Even if it doesn't work out for Newcastle United, one things for certain- The Magpies have money to burn.
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