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Wolves warned Newcastle United takeover could lead to plan Fosun slammed

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Newcastle United’s £305million takeover could have grave implications on the rest of the Premier League, a financial analyst has warned.

Wolverhampton Wanderers’ Premier League rivals were bought by the controversial Public Investment Fund (PIF) last week after an 18-month saga.

The Saudi-backed group bought out Sports Direct tycoon Mike Ashley after the Premier League concluded that the state would not be controlling the football club.

Newcastle have immediately soared to top spot on the Premier League’s rich-list, with their owners even wealthier than Manchester City supremo Sheikh Mansour.

The Magpies’ new owners are reportedly worth £320billion – which dwarfs the £8.8billion wealth of Wolves chiefs Fosun International according to Forbes.

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Premier League owners, including Fosun, are concerned and have voiced their concerns in meetings between members over recent days.

Among those concerned are the so-called ‘Big Six’ – Manchester City, Manchester United, Chelsea, Liverpool, Arsenal and Tottenham Hotspur – and the threat of a European Super League could emerge again according to one analyst.

Roger Bell, the co-founder of financial strategy analysts Vysyble, told PA: “The financial conditions that led to the Super League have not changed.

“Clubs are still incurring huge losses and are struggling to control the relationship between income and expenditure.

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“The arrival of a new and obviously wealthy regime at Newcastle will only sharpen the focus in those clubs closely associated with the Super League concept.

“It may indeed lead to a revitalised version in the near future before Newcastle have had a chance to reinvigorate itself.”

Fosun condemned the plan back in April and promised that they would never enter such a competition if the opportunity arose in the future.

Part of a strongly-worded statement released by Wolves said: “If you work hard enough and operate with greater intelligence and commitment than your competitors, you will be successful, you can challenge the top clubs and rise to their level through your own efforts, and that cannot change.

“The plans for this breakaway league represent the complete opposite. They present values which contradict that of Wolves and Fosun tremendously, which is why Wolves would categorically reject any invitation of involvement in the future.”

The plan was for 15 clubs to play each other around the calendar, with no guarantees that outsiders would ever be able to enter European football’s new premier competition.

It was quickly condemned by supporters across the continent and the plan crumbled just 48 hours after the official announcement was made.

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READ: Newcastle United takeover hands Wolves owners Fosun an ultimatum





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