Newcastle United director Amanda Staveley says the club's owners decided to invest in the Magpies over the likes of Chelsea, Liverpool and Tottenham because it was cheaper.
Staveley's consortium, partnered with the Public Investment Fund (PIF) of Saudi Arabia, purchased Newcastle in October 2021, paying around £300million, and she explained that one of the key reasons for doing so was so more money would be left over to invest in the club than if they had bought a more expensive alternative.
Speaking at the Financial Times Business of Football Summit, Staveley also pointed to the fans as a driving force behind deciding to buy the club.
"I think if we look specifically at Newcastle, we were very clear that prior to buying the club, we wanted a club with a very passionate fanbase," she said. "But we also wanted a club that we could buy affordably, because we're also partners with PIF and they are, effectively, a pension fund, managing money for future generations.
"So we wanted something that was very sustainable, and that we could build. We didn't go for the wonderful Tottenham and Chelsea and Liverpool and obviously, everybody knows I was a massive Liverpool fan.
"We tried to buy Liverpool, and when we walked into the Newcastle game, we said 'why spend x billion when you can actually spend 300 and some million and put in?' I think we've put in £200+ [million] to date of new money since we bought the club. We had a particular business plan based on a five, 10, 15-year timeline.
"Critical to that plan was making sure we had the right partners...PIF are very long term investors."
Staveley also explained why it is unlikely that the PIF would also look to invest in another Premier League club, despite previous links to Manchester United.
"Mehrdad [Ghodoussi, co-owner and Staveley's husband] and I are not wealthy," she said.
"Jamie [Reuben, co-owner] obviously is an extraordinarily wealthy gentleman, we're the poor partner, but that helps govern a lot of the decisions – so there's no scenario where Saudi Arabia will decide to sell Newcastle to buy one of the mega clubs like Manchester United."
Staveley spoke about the challenges since arriving at St. James' Park, including in player recruitment where the owners are mindful about what head coach Eddie Howe wants for his team.
"If I did it all again. I think we should have probably brought in more people more quickly," she said. "Players or staff... the players we had to be just very careful and analytical on everything we did and we still do that.
"Because we have an FFP budget we keep to... that guided a lot of our transfer policy but we couldn't afford to have a dud player. And so we had to make sure that we built at the back so that we [could] start to play the football that Eddie wants to play, this fantastic pressing football that we love and exciting attacking football.
"But to do that we needed to make sure that we could really strengthen because we had, I think, the weakest defence in the whole league, and now we have one of the strongest. And that was really important.
"So we always want more players. But the problem is, especially when you're running a football club, you don't really want to lose the players that you've worked with, and Eddie's the same, and so it's really difficult. So we've got to do that."
Al-Hilal 1-1 Al-Nassr (5-4 pens): Ronaldo and company lose chaotic King's Cup final
Al-Nassr lost a dramatic Kings' Cup final featuring three red cards against Al-Hilal on Friday, with the Saudi Pro League champions claiming the treble with a 5-4 penalty shoot-out win.
Former Fulham striker Aleksandar Mitrovic peeled away to the back post to head home the opener after just seven minutes, before Cristiano Ronaldo was denied by Yassine Bounou.
Al-Nassr looked to be imploding when David Ospina was sent off for a wild lunge on Malcom outside his penalty area shortly after half-time, but it was 10 versus 10 when Ali Al Bulayhi received his second yellow card late on.
Aiman Yahya took advantage to equalise in stoppage time, before Al-Hilal lost a second centre-back to a red card, Kalidou Koulibaly receiving his marching orders when he clattered into substitute goalkeeper Waleed Abdullah.
Neither team could find an extra-time winner, though, and it was Bounou who came up with the goods in the shoot-out.
He pushed Meshari Al Nemer's tame kick onto the post after Ali Al Hassan and Saud Abdulhamid had traded misses, claiming the trophy for Al-Hilal.
Data Debrief: Domestic sweep for Al-Hilal
Having also won the Saudi Super Cup and the Saudi Pro League, going unbeaten throughout their league campaign, Al-Hilal capped a perfect domestic season with their 11th King's Cup. Only Al-Ahli (13) have won the competition more often.
Al-Nassr, meanwhile, have now gone four seasons without a domestic trophy, with August's Arab Club Champions Cup all they have to show for their efforts in 2023-24.
Bayern Munich confirm shock appointment of Kompany
Bayern Munich have confirmed the appointment of Vincent Kompany as their new head coach.
Kompany has joined Bayern on a three-year deal, and comes in as Thomas Tuchel's replacement.
The former Manchester City captain, who began his coaching career in Belgium with Anderlecht, could not keep Burnley in the Premier League in 2023-24.
Indeed, the Clarets were relegated following a 2-1 defeat to Nottingham Forest at Turf Moor in their penultimate match of the season.
Yet, less than two weeks after the campaign's conclusion, Kompany has been installed as boss of one of Europe's biggest clubs.
The 38-year-old joins Bayern after Tuchel confirmed talks over potentially reversing the decision for him and the club to part ways, which came in February, had ended.
Bayern lost their last game of the Bundesliga season to finish in third place, having failed to win any of the four trophies they were in contention for, seeing their dominance of Germany's top tier ended by Xabi Alonso's unbeaten Bayer Leverkusen team.
Alonso had been Bayern's primary target, but their former midfielder has elected to stay at Leverkusen for next season.
Bayern were also linked with Roberto De Zerbi, who has just left Brighton, and Brentford coach Thomas Frank, while they were turned down by Austria coach Ralf Rangnick. Mauricio Pochettino, who left Chelsea on Monday, was also rumoured as a potential option.
Kompany, then, is a surprise pick, but Bayern will be hoping he rediscovers the magic touch he had during his first season at Turf Moor in 2022-23, when he guided the Clarets to promotion from the Championship, earning 101 points in the process.
However, Kompany's possession-based, front-foot approach was badly exposed in the Premier League, with Burnley winning just five games on their way to taking 24 points as they finished 19th, going back down alongside Luton Town and Sheffield United.
He leaves Burnley having managed 96 games, winning 41 (42.7 per cent) of those matches.
In a statement, Burnley said they were "initially confident" of keeping Kompany at the club, but claimed "the changing dynamics of the situation made this impossible".
"We understand the allure and prestige of a club like Bayern Munich and respect Vincent's ambition to explore new opportunities," the statement continued.
"We wish only the best for Vincent and would like to put on record our appreciation for his dedication every single day he was a part of this football club.
"Our priority remains the stability and success of Burnley, and we will continue to take the necessary steps to ensure that our ambition is realised, namely our return to the Premier League."
Tottenham bring Werner back on loan for 2024-25
Tottenham have agreed another loan deal with RB Leipzig for Timo Werner to remain at the club for 2024-25, with the club holding an option to make the move permanent next year.
Werner joined Spurs on loan in January and immediately assumed an important role in Ange Postecoglou's team, contributing two goals and three assists in 14 appearances in all competitions.
He saw his season ended prematurely by a hamstring injury in May, but Tottenham always appeared keen to keep him at the club for next season.
Postecoglou's side will play in the Europa League in 2024-25 after finishing fifth in the Premier League, and Werner will be an option across the frontline again next season.
Reports suggest Tottenham could have made the move permanent this year for £15million, but the extended loan deal includes a buy clause estimated at £8.5million.
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