“NOTHING succeeds like success,” the old proverb goes, and that is certainly the case on Tyneside, where the fans of Newcastle United were only too glad to welcome the Saudi Arabian conglomerate who took over “their” club in October 2021.

Backed by a public investment fund worth hundreds of billions of dollars, the new owner’s immense wealth enabled Newcastle supporters to dream of a bright new future for their team, based on the acquisition of expensive, top-quality players who would have previously been out of their price range.

On August 21 of this year, Newcastle participated in the first “Gulf Derby” against Manchester City who are owned by the United Arab Emirates Deputy Prime Minister Sheik Mansour, whose net worth has been estimated at $21 billion (£18.2bn).