Saudi Public Investment Fund (PIF) recently bought Premier League club Newcastle United from former owner Mike Ashley for £300m and are said to be ready to invest an initial £5bn in the club for infrastructure development, academy, new signings and new managers.
Different media houses are having multiple reports of players who they could sign even though the new owners are yet to reveal their plans for the club. The change at the club will not be instant, you would not expect that they will sign big players just because they have rich owners, they have to grow to the level.
Many top players are already linked to them including Brazil and Barcelona attacker Phillipe Coutinho who has been struggling at Camp Nou since his big money move from Liverpool and could reportedly be their first signing as they look to become a top club.
Media reports are also linking them with various managers including former Chelsea manager Frank Lampard and former Borussia Dortmund manager Lucien Favre. Antonio Conte had reportedly turned down the job as he is not interested. All of these are guarded by the financial fair play policies.