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Newcastle in talks over £30m off-pitch deal that will interest Everton fans
While Everton’s protracted takeover saga stutters on, Newcastle United are in talks over an agreement that will sound more alarm bells on Merseyside.
The progress Everton had made towards finding a new owner came to a juddering halt when Dan Friedkin, who had agreed a deal in principle to buy the club, pulled out last month.
The Freidkin U-turn at Everton is not the first time Moshiri has been in exclusive talks with an interested party only for a deal not to get over the line.
Previously Peter Kenyon had signed heads of terms with the British-Iranian investor, while more recently 777 Partners failed to have their proposed takeover ratified by the Premier League.
That latter group, a Miami-based investment firm, failed to prove to the league that they could fund the club going forward due to a litany of financial and legal issues.
Those problems have deepened in recent months, with 777 Partners multi-club empire crumbling worldwide.
However, their loss could be Newcastle‘s gain as they look to launch a multi-club model of their own.
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Newcastle owners PIF in talks to buy Red Star
Since the Saudi Public Investment Fund acquired Newcastle in October 2021, Newcastle officials have talked up the merits of the multi-club model.
Inspired by the success of Man City’s City Football Group and the Red Bull network, clubs in Europe and beyond are looking to the acquisitions market to give them a strategic and commercial boost.
Newcastle are already in a network of sorts given that PIF own several clubs in Saudi Arabia – but that does not extend to a formal link,
In any case, a Saudi Pro League link-up would not provide the same recruitment or development benefits that a European takeover would provide.
777 Partners are well aware of these merits and have stakes in Sevilla, Genoa, Standard Liège, Hertha BSC and Red Star, as well as Vasco da Gama and Melbourne Victory outside of Europe.
While 777’s finances have gone into a seemingly inescapable tailspin, the football operation itself was relatively well respected – by Newcastle themselves, significantly.
Before they appointed Dan Ashworth and later Paul Mitchell, Newcastle had zeroed in on 777 football tsar Johannes Spors for their then-vacant director of football role.
It makes sense then that when looking to enter the multi-club racket, PIF and Newcastle would consider clubs within the 777 network, essentially all of which is now for sale.
has now reported that Paris-based Ligue 2 side Red Star is a target for PIF, who have held exploratory talks over a number of 777 talks.
It is believed that PIF are ideally looking for a French club, despite the economic problems faced by Ligue 1 and 2 in recent months.
A £200m loan Everton received from 777 Partners is the subject of a lawsuit in the US, which is believed to have been the catalyst for Friedkin’s withdrawal from proceedings.
The wider collapse of 777’s empire will likely alarm Everton fans, who will feel they have dodged a bullet even though the frustration over the current ownership situation remains.
TBR Analysis: Why Do Newcastle want to launch a multi-club network?
There are three categories of benefits of the multi-club model – sporting, commercial and regulatory.
With a network of clubs, Newcastle would have a ready-made scouting network and could leverage geo-specific expertise to improve their football operation.
What’s more, the model could act as a workaround for post-Brexit recruitment rules, allowing them to park players at subsidiary clubs until they acquire a work permit.
In terms of commercial advantages, Man City have seen the benefits of a network-wide content strategy, with outposts in other countries acting as entry points for City in lucrative markets.
Multi-club models also allow a group to pool non-football costs, which could help Newcastle with PSR.