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Why do Saudi Arabia want to buy Newcastle?
So there is a revenue-generating asset there. I think the club will also be used as the basis for promoting Saudi Arabia’s wider political economic goals. The Saudi Arabian government wants to create a new airline to rival Emirates and Qatar Airways and to establish Riyadh as a transit hub.
Why does Mohammed bin Salman want to buy Newcastle?
He wants legitimacy and credibility. Buying a team like Newcastle in the Premier League, in one of the most powerful countries in Europe and the world? You buy legitimacy in the international community.
How did Saudi buy Newcastle?
Newcastle United fans had reason to celebrate last week. It was announced that after 18 months of negotiations, a consortium led by the Saudi Arabian Public Investment Fund (“PIF”) purchased the club for $409 million.
Who is trying to buy Newcastle United?
Who is buying Newcastle? Newcastle United are to be purchased by a consortium at a cost believed to be $408 million (£300 million). Around 80\% of that sum will be provided by PIF, the sovereign wealth fund of Saudi Arabia. Its asset value is estimated at $430 billion.
Who is buying Newcastle?
Saudi Arabia
Newcastle’s Saudi Arabia-backed takeover completed to end Ashley’s 14-year reign. Newcastle United finally have new ownership, bringing a dramatic end to the Mike Ashley era on Tyneside after 14 difficult and often contentious years.
Who wants buy Newcastle?
Newcastle United are to be purchased by a consortium at a cost believed to be $408 million (£300 million). Around 80\% of that sum will be provided by PIF, the sovereign wealth fund of Saudi Arabia. Its asset value is estimated at $430 billion. It is chaired by Saudi Arabia’s Crown Prince Mohammed bin Salman.
Who is buying Newcastle Football club?
A Saudi-led consortium has completed their takeover of Newcastle United, bringing Mike Ashley’s 14-year ownership of the club to an end, but what does it mean going forward?
How rich are the new Newcastle owners?
The collective wealth of the Saudi Public Investment Fund is 320 billion pounds, but Bin Salman’s individual net worth is believed to be around 13 billion pounds.
Who is the owner of Newcastle Football Club?
Public Investment Fund
Reuben BrothersPCP Capital Partners LLP
Newcastle United F.C./Owners
What is the richest football club in the world?
World’s richest football club owners revealed with Newcastle TOP ahead of PSG as £300m takeover finally completed
- Newcastle – Saudi Arabia Public Investment Fund – £320bn.
- Man City – Sheikh Mansour – £23.3bn.
- RB Salzburg, RB Leipzig – Dietrich Mateschitz – £15.7bn.
- Juventus – Andrea Agnelli – £15.7bn.
Who owns Newcastle club?
On 7 October 2021, the club was bought for £300 million by a consortium led by the Saudi Arabian government’s sovereign wealth fund….Newcastle United F.C.
| Full name | Newcastle United Football Club |
|---|---|
| Owner | Public Investment Fund (80\%) RB Sports & Media (10\%) PCP Capital Partners (10\%) |
| Chairman | Yasir Al-Rumayyan |