Newcastle legend Les Ferdinand has predicted the Saudi takeover will turn the club into a new Manchester City or Chelsea.
The former striker was part of Kevin Keegan’s Entertainers when they challenged for the title.
Ferdinand was part of the resurgence of Newcastle in the mid-90s - something the new owners want to recreate.
He said: “The expectations will be massive. The fans will see the owners of Man City, and when Abramovich went to Chelsea, and the difference it made to those football clubs.
“Not just the club, the surrounding area. Newcastle is in a place all on its own. What it will bring to the city is going to be absolutely massive.
"100pc I am excited about what is to come. I desperately want Newcastle to do well. The next players who will be linked... I want to see progress
“There was no love lost for Mike Ashley and hopefully this means progression for the football club.”
“We had no superstars, feet on the ground and one purpose to play good football and win games."
Newcastle are being linked with some galactico signings, but Ferdinand says a team ethic has to prevail as the squad is rebuilt.
He added: “It was the most enjoyable time of my career. Disappointed we didn’t win the league when we were so close. I can’t keep thinking about it or you would spiral into depression!”
Newcastle play Spurs on Sunday, who Ferdinand also played for and he added: “Newcastle could do with the points the most. But Tottenham want to get their season back on track.
“The desperation of where Newcastle are now… I want to see them stay in the league. It’s the only stadium I’d want to be in this weekend.”
