Newcastle labelled a 'small car' by Serie A president criticising Amanda Staveley's purchase of club

Newcastle United’s new era under Saudi Arabian owners is yet to move through the gears but already has been targeted for criticism, with the president of Serie A insisting Amanda Staveley purchased a small car instead of a Formula One machine.

The Public Investment Fund of the country completed their £305million deal last month and are now among the wealthiest clubs in football following the deal brokered by Staveley, who holds a 10 per cent stake herself.

Paolo Dal Pino, president of Italy’s top flight, has suggested she missed an opportunity by overlooking clubs such as AC Milan or Inter Milan. Some Serie A clubs including Inter suffered financial problems during the coronavirus pandemic but Dal Pino believes they are still investments with potential for huge returns.

"If the lady has preferred to invest in Newcastle over Inter or Milan, we see that she likes small cars and not Formula One cars," he said.

Newcastle have since appointed Eddie Howe as manager and are expected to invest in the team during the next transfer windows. The new Saudi owners increases the number of foreign owners in the Premier League, with overseas investors seeing English football as the place to earn from huge TV deals.

"There are eight foreign properties that have believed in Serie A and that believe there is growth potential,” added Dal Pino.

“When you invest you look at the potential of the company and market in which you operate. I would prefer to have 90 per cent of something that will be worth billions in a few years compared to 100 per cent of something that is worth less in a few years.

"Serie A is made up of many brilliant entrepreneurs with a majority that wants ideas and changes. We see that it is a great opportunity because it has unexpressed potential like no other league."