Newcastle United Football Club takeover generates optimism to some in local business
The Saudi Arabian backed £305m takeover of Newcastle United Football Club has proved controversial with human rights activists and fans alike.
However, some members of the Newcastle business community have expressed more optimism regarding the club and the future of the region.
Stephen Patterson, Chief Executive at NE1 Ltd, the Business Improvement District company for Newcastle City Centre, said: “The Newcastle United take-over is great news for the club, the fans, the city and the wider region.
“We all stand to benefit from a major financial investment in Newcastle United, a club at the heart of our city.
“This will have a major impact on the city’s profile nationally and internationally and, economically will pay dividends for the local economy.
Stephen continued: “A takeover of this scale will be transformational for the club and its impact will resonate far beyond the confines of St James’ Park. We have all seen the significant economic benefits experienced where takeovers of this kind go on to deliver dramatic uplifts in inward investment in the city and wider region.
“Newcastle United is a huge part of the beating heart of the city. As we come back from Covid this is just the tonic that the city needs.”
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