October 20, 2021

MediaBizNet

Complete Australian News World

The English club was officially acquired by Saudi funds in Newcastle

Posted on:

After lengthy negotiations, Saudi finance officially took over the English football club Newcastle, despite opposition from human rights groups.

English Premier League football Recognized, on Thursday, October 7, the club was purchased in Newcastle by Saudi funds, ending a soap opera that lasted more than a year.

“We are very proud to be United’s new owners of Newcastle, one of the most popular clubs in English football,” Saudi finance boss Yasser al-Rumayyan said in a statement.


The club, which has been owned by British businessman Mike Ashley for 14 years, is now owned by a consortium of Saudi investment funds PCB Capital Partners and brothers David and Simon Ruben.

The body overseeing the English Championship was arrested by Amnesty International earlier on Thursday, the NGO was warned as it was taken over by Saudi Arabia’s sovereign fund, and described the human rights situation in the country as “catastrophic”. Prince Mohammed Ben Salman.

Saudi Arabia, crippled by the leadership of Crown Prince Mohammed Ben Salman, who has been accused of numerous human rights abuses, has already sought to acquire “Macbeth” in the summer of 2020. The second attempt is finally correct, with the Premier League report stating that the club is “immediately sold to the federation” and that the organization “has legal guarantees”. Kingdom of Saudi Arabia United do not control the club in Newcastle.

Diplomacy through sports

According to British media, the sale is worth around 300 300 million (3 333 million), which represents a “long-term investment” targeted by Amanda Stavley, CEO of PCB Capital Partners.

Returning to the Premier League in 2017 after a year in the second division, this popular club from the Northeast of England is ranked 19th after 7 matches, while the club’s last peak was in the 1990s, when coach-led coach Kevin Keegan and striker Alan Shearer failed for the league title.

After Manchester City came under the Emirati flag in 2008 and the Qatari investment fund QSI acquired Paris Saint-Germain in 2011, Newcastle entered the circle of clubs based on the enormous wealth of the Gulf countries.

The Saudi power signifies a little more in the sports world, while the country has hosted big car races like the Dakar Rally since 2020 or soon a round of the Formula 1 World Championship, a way to respond to ambitious policy. Among its regional rivals, such as Qatar, the 2022 World Cup has been the most prevalent for a decade organized as a culmination.

Fear of human rights activists

Tensions between Saudi Arabia and Qatar Already appearing in the sports industry, the Qatari channel beIN Sports accused Saudi Arabia of being behind BeoutQ, the organization that steals sports images. Until the latest resolution of the incident was formalized on Thursday, rumors of a recovery were revived.

Former club players have expressed their delight and hundreds of supporters have celebrated the capture around the famous St. James’ Park, and the eruption of such power in English football is also worrying the rights of activists, apparently targeting “MBS”.


Prior to the acquisition, Amnesty International called on the Premier League to tighten the criteria for acquiring a football club in the UK. “Instead of allowing individuals involved in serious human rights abuses to enter English football because their shoes are full, the NGO urged the Premier League to change the” standards “of its owners and directors.

Degree Prince Mohammed Ben Salman Named after Turkish and US officials as sponsor of the October 2018 journalist assassination Jamal Kashogi, He was killed at the Saudi consulate in Istanbul. The “MBS” was later told he was responsible for the killings, but denied any involvement in the killings.

With AFP

READ  Editorial by Henry Kieber: An English Novel