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The Gulf countries continue to gain importance in European football. After the UAE took control of Manchester City in 2008 and Qatar bought Paris Saint-Germain in 2011, Saudi Arabia now has a stake in Newcastle United.
A new player has entered the fray in a bid to revolutionize the Premier League, but will he succeed?
“We are very proud to become the new owners of Newcastle United, one of the most famous clubs in English football, “said Yasir Al-Rumayyan, the governor of Saudi Public Investment Fund (PIF) who will control the Magpies after paying 320 million euros to Mike ashley.
Who are the new owners of Newcastle?
Saudi Arabia Public Investment Fund (PIF) is one of the largest in the world, with a value of over 400 billion euros, and they now control 80 percent of Newcastle. Of the remaining 20 percent, 10 percent will go to PCP Capital Partners, a consortium of investors led by Amanda Staveley, a businesswoman with ties to the Middle East who helped Sheikh MansourThe purchase of Manchester city.
The remaining 10 percent will go to RB Sports & Media of Ruben brothers, entrepreneurs with one of the UK’s biggest fortunes. They complete the trio of the consortium which now leads the Magpies.
Yasir Al-Rumayyan, governor of PIF, is the new president. According to Sky Sports, he is one of the most powerful men in Saudi Arabia. He graduated from Harvard Business School and is an important part of the country’s business community. He was appointed governor of the Public investment fund in September 2015 by Crown Prince Mohammed bin Salman.
Are they the richest team in the world?
Given that Crown Prince Mohammed bin Salman controls all companies in the country, including the PIF, rich of 380 billion euros, that makes Newcastle the richest team in the world.
Why did the purchase take so long?
Sales of Newcastle took 18 months. In April 2020, the first offer was made. Yousef Al-Obaidly (executive director of Qatari company beIN) accused the government of Saudi Arabia of “facilitating the nearly three-year theft of Premier League commercial rights globally” by backing the service pirate beoutQ.
A battle amid the geopolitical dispute between the two Middle Eastern countries, as well as Amnesty International going against the potential redemption of systematic human rights violations in the country:
“The Prime Minister risks becoming a place of ‘cover-up’ for those who want to use the glamor and prestige of football to cover up immoral actions that violate international law,” Amnesty International said.
Protests continued after the deal was struck.
“The situation is terrible. This purchase is yet another attempt to eliminate human rights violations by football, ”Amnesty International added.
What is the situation of the club?
Since the arrival of the businessman Mike ashley, owner of the British sportswear chain Sports Direct, in 2007, Newcastle have played twice in the Europa League and have been relegated twice.
The club haven’t won a trophy since the 1969 Fair Cup. They are four-time league champions, six-time FA Cup winners, having lifted the Community Shield once.
Newcastle fans aspire to put aside the economic and sporting hardships they have endured in recent years and regain their power of the 1990s and early 2000s, when they were a competitive force and had Alain shearer as their star player.
Since their return to the Premier League in 2017, 10th place in 2018 is their best position. Currently, they are second from the bottom and haven’t won a game in seven games. The 29 million euros they paid Joe willock was the only signing they made this summer. Only Everton and Watford spent less.
Why have Newcastle fans celebrated so much?
The thousands of fans who celebrated the club’s purchase on the outskirts of St James’ Park are the same who have demanded the departure of Mike ashley for years.
Instability reigned at one of the Premier League’s most popular clubs. Ashley changed the name of the stadium from St James’ Park to Sports Direct Arena, and he fired many managers, including the club legend Kevin keegan, Alan pardew and Rafa Benítez. This, combined with his mistreatment of icons such as Shearer and Jonas Gutierrez, earned him a bad reputation.
“We can dare to hope again,” said the former player Alain shearer who was happy to Ashleythe departure and PIFarrival at Newcastle.
What’s the plan now? Will they be the new Man City or PSG?
The new owners will make changes at all levels of the club, with the aim of bringing it closer to Europe and the ‘Big Six’. Their goal will be to compete with the best, but it will take time. Their first and most urgent goal is to avoid relegation.
“Newcastle deserve to be at the top of the Premier League. We want to make it happen. It will take time, but we will get there. We want to invest at all levels. Getting trophies means patience, investment, time, “said Amanda Staveley at Sky Sports.
What will happen to Steve Bruce and the current team?
Current manager Steve bruce spoke about his continuity as the head of Newcastle and that he didn’t want to leave, but he was aware that changes were taking place. Many predict that the first changes to Newcastle will be with the current coaching staff.
“We support him. We will tell him about the signings we want to make. We have a great team, although we are looking to strengthen ourselves,” Staveley noted. Callum wilson, Allan Saint-Maximin, Miguel almiron, Joe willock and Jamaal lascelles are among the most important players on the team, but more will be arriving soon.
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