A consortium around the sovereign wealth fund of the monarchy takes over the Premier League club. The league, which has so far refused to buy, agreed this Thursday.
The English football club Newcastle United has been sold to a consortium with Saudi participation. The Premier League gave the necessary approval for the takeover of table 19 on Thursday evening. The group of investors, led by British businesswoman Amanda Staveley, originally withdrew its offer this July. The prerequisite for the approval of the Premier League was that the club would not be under the control of Saudi Arabia after the takeover. The Saudi Arabian public investment fund is said to hold 80 percent of the consortium and is now the majority owner of the association. In addition, the Saudi Crown Prince Mohammed bin Salman, who is accused of serious human rights violations, is the most influential man in the fund. The fund is seen as “separate from the state”, which means that a takeover from the Premier League perspective was permissible. That’s what the league says in a message.
Saudi Arabia had previously given in to the dispute with the Qatari television broadcaster BeIN Sports. BeIN Sports, as the rights holder for the region and a powerful partner of the Premier League, had accused the Saudi channel BeoutQ of illegally broadcasting international sporting events and of stealing the programs of the Qatari broadcaster. Bundesliga, Fifa and Uefa considered the allegations to be proven based on a study. At the same time, Saudi Arabia had denied BeIN Sports a license to broadcast in the country. It is unclear whether the settlement of the dispute played a role in the settlement of the takeover.
The latest developments are good news for Newcastle United fans. According to a poll by the Newcastle United Supporters’ Trusts on Tuesday, 93 percent of supporters are in favor of the takeover. The owner Mike Ashley, who is unpopular with fans, has been wanting to get rid of the club for a long time. After the announcement of the takeover, numerous fans cheered in front of the stadium in Newcastle.