The club's current record transfer fee is the £40m paid for Joelinton at the start of the 2019-20 season but they are now 10-1 with Hills to break the British transfer record, which stands at £100m paid by Manchester City for Jack Grealish, in next summer's transfer window. The deal concluded on Thursday brings an end to Mike Ashley's tumultuous and controversial 14 years as owner to the delight of many Newcastle fans.Īnd with the Public Investment Fund, who will provide 80 per cent of funds for the takeover, possessing assets of around £250 billion, Newcastle are expected to spend big in the coming years. Bookmakers are anticipating plenty of change at Newcastle United following their £305 million Saudi Arabian-backed takeover with the Magpies 12-1 with Hills to win the Premier League title in the next five years.
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