Newcastle: Richard Keys has heard ‘whispers’ of Magpies being sold for £500m
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Newcastle: Richard Keys has heard ‘whispers’ of Magpies being sold for £500m Tue 24 March 2026 9:38, UK Newcastle United’s Saudi ownership are looking to sell the club for up to £1billion according to Richard Keys.Saudi’s Public Investment Fund bought Newcastle in 2021 in a takeover deal worth £305million, which brought Mike Ashley’s 14-year tenure at the club to an end.Under the Saudi ownership, the club have ended their 70-year wait for a domestic trophy after winning the Carabao Cup in 2025, and have returned to the Champions League.Whilst progress has been made on the pitch, the Premier League’s profit and sustainability rules have continued to hold them back in the transfer market.Newcastle’s 2023-24 financial accounts did show record revenue thanks to commercial growth and Champions League participation, but Eddie Howe has still struggled to strengthen his squad to maintain their position at the top end of the Premier League table. 💰 Newcastle Finance Update 💰 Inside the PIF transfer budget, player wages, commercial growth, PSR updates and boardroom developments at St James’ Park. VISIT THE NEWCASTLE FINANCE HUB MORE FOOTBALL INSIDER STORIES Newcastle’s Saudi project is ‘over’A new era could now be on the horizon at Newcastle as Richard Keys has heard that the Saudi ownership are looking to sell the club.Writing on his personal blog on 23 March, Keys said: “Another whisper I picked up recently – and I don’t think this will come as a surprise to anybody – I’m told the Saudis are looking to sell Newcastle.Annual Turnover£335mMerchandising Revenue£35Post-Tax Loss£11.1mDeloitte Money League Rank17th in the worldFigures based on NUFC 2025 Financial Filings and UEFA Benchmarking Report 2026.“Regulars know I’ve been saying for some time the project was over.
Apparently there are interested parties, but the Saudis want £1b. £500m is nearer the mark.”Selling the club could damage chief executive David Hopkinson’s aim of Newcastle becoming the top club in the world by 2030, as he set out only in December 2025.The club have also set out plans to either increase the capacity of St James’ Park or build a new ground in the city centre, which was expected to be boosted by the ownership’s backing.Eddie Howe sack verdict revealedSources have told Football Insider that the Newcastle board have no plans to sack manager Eddie Howe after the 2-1 defeat against Sunderland.Howe was appointed by the club’s Saudi owners in 2021, keeping them in the Premier League following the sacking of Steve Bruce.Pressure on the 48-year-old though is increasing at St James’ Park, with Newcastle set to be without European football next season, and they have already been knocked out of the FA Cup and Champions League.Howe wishes to remain on Tyneside, but there will be an expectation that if he is to remain manager next season that they need to get back to competing for a top five place in the Premier League table. Don’t Miss a Beat: Your Newcastle Insider Access Get the full story from St James’ Park and Darsley Park with our dedicated expert hubs: Updated 24/7 with expert analysis from the heart of Tyneside.