According to AFP, the two new names that Newcastle are currently targeting are strikers Timo Werner and Memphis Depay. Despite Newcastle becoming the richest club in the world last season after being taken over by the Public Investment Fund (PIF) of Saudi Arabia, the English team has now applied for a loan from the global bank, HSBC. This is to have enough liquidity to fulfill the contracts that coach Eddie Howe wants before the new season.
Newcastle’s wealthy owner has to borrow money to buy more players
The northeastern English club are said to have taken out a £75m loan to facilitate the signing of transfer targets this summer. Strikers like Timo Werner (Chelsea) and Barcelona’s Memphis are two of the many names involved in “The Magpies”‘ efforts to strengthen the attack.
PIF, which holds an 80 per cent stake in Newcastle after being one of the members buying the team for £300m last October, plans to repay the loan using profits from broadcasting. Newcastle matches next season, as well as ticket sales.
Timo Werner (right) is Newcastle’s new target
Following the arrival of Sven Botman for €37.5m, Nick Pope (£10m) and the arrival of Matt Targett (£15m), Newcastle are looking to strengthen the squad further and develop become a team capable of competing for high positions in the Premier League, even aiming for the championship race.