The takeover of Premier League club Newcastle United by Saudi Arabia Public Investment Fund was completed last week for £300m and the club immediately became the richest club in the world because the owners have a net worth of over £260bn. It could have been Manchester United, see why the deal collapsed.
The Glazers family took over the ownership of Manchester United in 2005 and oversaw a successful first eight years at the club but the club has witnessed a decline on sporting merit since the departure of Sir Alex Ferguson in 2013 though the club continue to maintain financial strength.
The Glazers confirmed there were discussions with the Saudis in 2018 over a potential sale of the club but the deal collapsed after the Glazers were holding out for a huge fee in the region of £4bn to £5bn which the Saudis then were unwilling to pay though some sources close to Saudi confirmed it could have happened.
The reported initial investment into Newcastle United after the takeover by the Saudis is £5bn in infrastructural development and revamping of the academy and also signing of players to compete, the same fee that could have bought Manchester United, buying Newcastle is a better way to develop their investment.