Any potential buyer would have to spend £500 million to guarantee Premier League football at Newcastle United “season in, season out”, according to Danny Mills.
As reported by the Chronicle, current owner Mike Ashley is looking for £300 million to relinquish his hold over the club, but Sky Sports pundit Mills believes that it would take an awful lot more than that to ensure success on Tyneside.
Speaking to Football Insider, he said: “Valuations are whatever somebody wants to pay for it. You look at Newcastle and that’s [asking price] maybe what, £300million?
“They’re struggling and they’re going to continue to struggle, that’s going to take another £200million to guarantee Premier League football season in, season out.”
You fear that Mills is right about this one. At the end of the day, this Newcastle side is a long way beneath the standard that it should be, and if we’re calling a spade a spade, that underachievement has come as a direct result of years of underspending and stagnation under Ashley. Subsequently, logic dictates that it will take an awful lot of money to break the constant cycle of disappointment that the Magpies currently find themselves in. If you want any indication of just how much needs to be invested, look no further than the record signing of Joelinton, who, despite costing £40 million or so this summer, has produced very little because he is so isolated most of the time. The squad needs an overhaul, and that is enough to put off any sensible buyer, especially when the asking price is so high.