Amanda Staveley has admitted she might need to dilute her stake in Newcastle United in order for the Saudi Public Investment Fund to inject more money into the club.
The PIF owns a majority 80-per-cent share while the Reuben family and Staveley's PCP Capital Partners each hold a 10-per-cent stake.
Speaking at the Financial Times' Business of Football Summit, was quizzed on what would happen to her stake if the Saudis wanted to ramp up investment.
"It might get diluted - but we will just have to see how this goes," Staveley replied.
"That's why we have to spend wisely."
She added: "The business model is to build this club into a huge global business, a huge global brand and we want to be the best at football and challenging for trophies.
"That needs a lot of investment. We are not saying we are going to spend silly money. We are not. I hope that in the next transfer window people will see we are not going to overpay for players or assets."
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