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published photo, Reuters
An alliance supported financially by Saudi Arabia has finalized the acquisition of Newcastle United, the English club.
The English Premier League administration accepted the deal after securing, as it said, “legally binding guarantees” that the Saudi state would not control the club.
“The Premier League, Newcastle United Football Club and St James Holdings Limited today resolved the dispute over the club’s acquisition by the Saudi Public Investment Fund,” said a statement issued by the Premier League.
The Saudi Public Investment Fund, which will provide 80% of the value of the £ 300million deal, is considered separate from the Saudi state. This despite the fact that the Crown Prince of Saudi Arabia, Prince Mohammed bin Salman, is the head of the Public Investment Fund.
The sale came after the deal passed the test of English Premier League authority and management, which ended the acquisition of Mike Ashley, former Newcastle United owner for a period. 14 years old.
Fans gathered outside St James’s Park in Newcastle on Thursday to celebrate the approval of the buyout deal.
It is reported that a deal was originally reached in April 2020, but buyers withdrew four months later when the Premier League offered arbitration to settle a dispute over control of the club. alleged piracy conflict with beIN Qatar Sports, which owns the rights to broadcast Premier League matches in the Middle East, but sources told the BBC that an agreement was reached between the Premier League and the fund before the Wednesday’s announcement dispute had been resolved.
Amnesty International and “Changing the demands of the norms”
The deal came in light of Amnesty International’s calls for the English Premier League to change the selection and selection criteria for club owners and managers to take human rights issues into account.
The Saudi state is accused of human rights abuses, which Amnesty International says should be a factor in whether the takeover will take place.
Western intelligence agencies believe the Saudi Crown Prince ordered the murder of journalist Jamal Khashoggi in 2018 at his country’s consulate in Turkey, which bin Salman denies.
Sasha Deschmukh, Chief Executive Officer of Amnesty International, said: “Instead of letting those implicated in gross human rights violations enter English football just because their pockets are full, we called on the Premier League to modify the selection and selection rules for owners and managers. take into account human rights issues.
He added: “The phrase ‘human rights’ doesn’t even appear in the owners and managers test, even though English football is supposed to meet FIFA standards. We sent the Premier League a proposal for a new human rights test, and we reiterate our call for them to reform their human rights standards.
long term investment
As part of the deal, Amanda Staveley, CEO of BCB Capital Group (partner in the acquisition deal), will take a seat on the Newcastle board of directors, while Yasser Al-Rumayyan, governor of the Saudi public investment, will assume the post. the non-executive president of the club. a long-term investment “to make sure Newcastle” compete regularly for the big leagues. “Newcastle’s last major domestic title was the 1955 FA Cup. May 2007 The club first went on sale in September 2008, amid a series of fan protests following the resignation of popular manager Kevin Keegan . to win the league.Ashley was offered Newcastle again for sale in October 2017. The club are 19th in the English Premier League and haven’t had a win after seven matches this season. With manager Steve Bruce Under pressure, a poll this week by the Newcastle United Supporters Trust found that 94% of fans wanted Bruce to leave. Many years. football clubs.
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