According to various reports, the Saudi Arabia Newcastle United takeover has finally been completed. We have all the juicy details.
It’s finally happening, Saudi Arabia’s prince has finally purchased Newcastle United for £300 million. With this decision to pay that amount, the Saudi Public Investment Fund (PIF) take over 80% of the club. Making them the majority stakeholder and the official owner of the institution. This means that the Toon Army is a newly state-controlled football club. If you thought folks in Qatar and Abu Dhabi were filthy rich, nothing can compare to the kind of wealth that Saudi Arabia’s Crown Prince has at the moment.
Mohammed Bin Salman’s entire fortune is worth an estimated €800 billion. We are talking about the Magpies effectively getting backed up by wealth from an entire country. After 14 years in power, Mike Ashley finally decided to accept the bid from the Crown Prince and made himself €300 million wealthier. The news comes at a specific time in which another two clubs that are state-controlled are practically owning the entire European Football landscape.
A transfer overhaul coming from Newcastle.
The news only broke after the Premier League confirmed that Saudi Arabia as a country wouldn’t interfere with the club’s dealings. Now that the takeover is happening, all Magpies’ supporters are outside St. James’ Park celebrating they will finally become a competitive entity. There is video of hundreds of supporters jumping in the air and chanting over this newly found power. In the coming years, we will start looking at top players going to play for Newcastle and helping the club win titles.
Regardless of the rules established by the Premier League, it’s still unclear if the Saudi Arabia state will manage to separate from the club’s owner. Examples of Manchester City and PSG are much more relevant today than they were just yesterday. Especially with the French club signing some of the biggest names in the game with no consequences. Florentino Perez must be fuming at this new takeover that will decrease his chances to sign new players for Real Madrid.
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