‘Interesting’ £37m investment will hand Newcastle transfer ‘boost’ as ownership move praised

Newcastle United’s ownership have been praised for continued investment in the club after another cash injection was pumped into the club.

The new investment comes in the form of one single share, issued for £37m, as Newcastle’s top brass show their continued commitment to improving all aspects of the club. Similar filings have been seen in recent years, with the most recent financial boost coming in August 2023 when £60m in shares were issued.

The positive move will help the Magpies invest both on and off the pitch, with more training ground upgrades and stadium developments on the cards. The £37m injection will also calm nerves about Newcastle falling foul to current Premier League financial regulations.

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Former Everton chief, Keith Wyness, who was in charge at Goodison Park from 2004-2009 and now advises elite football clubs, has praised the latest move by Newcastle bigwigs, insisting the move will give the north east outfit a big boost moving forward.

Wyness told Football Insider: “It’s an interesting number, £37million. It’s very specific, and that was for one share. I think they issued another share last year, and that was for £60million. Putting that much money into the club is to be applauded, and it’s obviously the right way to do it.

“I’ve always thought that since the new group came into Newcastle, they’ve run the club extremely well. It will help with their PSR situation for this season, and it will give them a boost in the transfer window – when combined with whatever they bring in through sales.

“I think Newcastle are going to be okay. They’ve taken prudent measures to make sure of it, and I don’t think they’ll be hitting the headlines with that kind of problem.”

Companies House documents show co-owners Amanda Staveley and Jamie Reuben have ‘resigned’ but fears have been eased with those papers deemed to be standard practice and classed as ‘housekeeping’. The confusion comes from the fact that Newcastle United Football Club Limited is a dormant company and on the papers covering Newcastle United Football Company Limited, Staveley and Reuben remain active.

View news Source: https://www.chroniclelive.co.uk/sport/football/football-news/interesting-37m-investment-hand-newcastle-29024401

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