October 21, 2021

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Saudi Finance buys English club in Newcastle

The English Premier League on Thursday (October 7) approved the purchase of the club in Newcastle by Saudi funds. In a press release. “The club is being sold to the federation with immediate effect”, Refers to the text, underlined that there is a Premier League “The Kingdom of Saudi Arabia has legally guaranteed that it will not control the United Club in Newcastle”.

In Newcastle, which has been owned by British billionaire Mike Ashley for fourteen years, the Saudi investment fund was bought by a consortium of PCP capital partners and brothers David and Simon Ruben. “We are very proud to be the new owners of United in Newcastle, one of the most popular clubs in English football.”Saudi Finance Governor Yasser al-Rumayyan said.

Read more Premier League: Fight between Gulf monarchs around the club in Newcastle

“We thank the fans at Newcastle for their incredible loyal support over the years and we are very happy to work with them.”, He added. Amanda Stowley, Managing Director, PCB Capital Partners; “Long-term investment”.

The transaction was valued at மில்லியன் 300 million (approximately 3 333 million), according to English media. It was especially well received by supporters of the English club, giving happy scenes in front of the United Stadium in Newcastle.

The rescue effort failed in the summer of 2020

Prior to the acquisition, Amnesty International called on the Premier League to tighten the criteria for acquiring a football club in the UK. Under Mohammed bin Salman, the human rights situation in Saudi Arabia is dire Government critics, women’s rights activists, Shia activists and human rights defenders continue to be persecuted and imprisoned after unjust trials.Amnesty UK Managing Director Sacha Deshmukh said.

“Instead of allowing individuals involved in serious human rights violations to enter English football because their shoes are full”, I ‘a “The Premier League has insisted on changing its criteria [de sélection] Owners and Managers “ Its clubs.

The article is reserved for our subscribers Read more “MBZ”, the real strongman of the Gulf

A The attempt to acquire Newcastle in Saudi Arabia has already failed in the summer of 2020, Especially due to the personality of Crown Prince Mohammed Ben Salman. Turkish and US officials have been named as sponsors of the October 2018 assassination of journalist Jamal Kashoki at the Saudi consulate in Istanbul. MBS ”later claimed responsibility for the assassination as a leader, but denied any knowledge of it before it was done.

The second front was opened when the Qatari channel BeIN Sports accused Saudi Arabia of being behind BeoutQ, an organization that steals sports images. The decision to allow Saudi Arabia to broadcast Bean Sports in its territory led to a resolution of a long-running dispute between the two Gulf states and a renewal of its plans to buy Newcastle.

World with AFP

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