Newcastle is investing $260 million in a training complex that will be ready to use from the 2029-30 season, a signal that its Saudi owners are still committed to the club after a raft of high-profile player sales over the past year.<\/p>\n
There has been growing skepticism over the commitment of the Public Investment Fund \u2014 Saudi Arabia\u2019s sovereign wealth fund that bought Newcastle in 2021 \u2014 following the exit of Alexander Isak last offseason and Bruno Guimaraes, Anthony Gordon and Sandro Tonali this summer, with the club fighting to comply with English soccer\u2019s stricter financial rules.<\/p>\n
Newcastle also didn\u2019t qualify for the lucrative Champions League \u2014 a competition which brought in estimated prize money of 50 million pounds ($70 million) to the club last season \u2014 after finishing 12th in the 20-team Premier League in an underwhelming campaign under now-departed coach Eddie Howe.<\/p>\n
PIF has also stated its intention to scale back its sports portfolio, including withdrawing financial backing for LIV Golf.<\/p>\n
\u201cThe project represents a significant long-term investment into the club\u2019s future by its owners PIF and RB Sports & Media,\u201d Newcastle said in a statement.<\/p>\n
Newcastle CEO David Hopkinson said it was a \u201clandmark moment\u201d for the club.<\/p>\n
The statement said Newcastle will purchase the 260-acre Woolsington Hall estate \u2014 which includes a derelict listed country house and parkland \u2014 close to the city\u2019s airport and build what the club describes as a \u201cworld-class training complex.\u201d<\/p>\n
The purchase is subject to planning permission, which will be applied for next year, and \u201cwith a view to the men\u2019s first team moving in for the 2029-30 season.\u201d<\/p>\n
The site was previously purchased by former Newcastle chairman John Hall as a potential academy venue in 1994.<\/p>\n
There is \u201cflexibility to integrate bespoke women\u2019s and girls\u2019 facilities,\u201d Newcastle said.<\/p>\n
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See AP\u2019s full soccer coverage here<\/p>\n<\/div>\n