In October 2021, a consortium consisting of the Reuben Brothers, PCP Capital Partners, and the Public Investment Fund of Saudi Arabia (PIF) completed the takeover of Newcastle United.
After years and years of discontent under the previous ownership headed up by Mike Ashley, the Magpies were finally bought-out and became the richest football club in the world.
Before attempting to build a sustainable footballing machine that is capable of competing for major honours, Eddie Howe's men are tasked with surviving relegation from the Premier League, after some dismal early-season form under Steve Bruce.
So far, they have added some much-needed experience into their backline with the signing of Atletico Madrid's Kieran Trippier, and supplemented the forward line with a major goal threat in Burnley's Chris Wood.
However, to become a club that dominates the world of football, both on the pitch and off the pitch, Newcastle United will have to make significant, but smart investments.
According to Martyn Ziegler and Owen Slot of the Times newspaper, Saudi Arabia’s Public Investment Fund - which owns 80% of the North-East outfit, want to mirror the multi-club approach taken by Manchester City’s Abu Dhabi owners, and make their club the 'focal point' of a global sports and football portfolio.
The idea the report is referring to is the City Football Group portfolio.
Widely known as the 'CFG', the football group currently owns significant stakes in football clubs in all of England, Spain, France, Japan, the USA, Uruguay, the Netherlands, Belgium, Australia, India, and China.
With the success of the model bearing fruit with every passing year, there is no surprise Newcastle's owners are looking to replicate it.
You can follow us for live updates here: @City_Xtra