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- Alistair Magwan
- BBC Sports
published photo, Getty Images
A deal on the Saudi acquisition of Newcastle United is expected to be announced soon.
Approval could come from the English Premier League within 24 hours, after an alliance that includes the Saudi Public Investment Fund, BCB Capital Partners and Robin Brothers proved that the Saudi state would not control the club.
The Saudi Arabia Public Investment Fund, which is expected to provide 80% of the funding for a £ 300million deal, will be seen as separate from the state.
The move is believed to come after Saudi Arabia settled an alleged hacking dispute with beIN Sports, which is based in Qatar and owns the rights to broadcast Premier League games in the Middle East.
But sources spoke of a deal between the Premier League and the alliance before those reports were received on Wednesday.
Saudi Arabia is accused of human rights violations, but the Public Investment Fund being seen as a separate entity, this and any other hacking problem is no longer an obstacle to acquiring the point of view. of the Premier League.
The news will delight club fans, after the Newcastle United Supporters’ Association poll on Tuesday showed 93% of its members backing the takeover.
Many fans want current owner Mike Ashley to leave, believing his 14-year tenure has been hampered by a lack of investment and ambition.
The Premier League and Newcastle declined to comment on reports of an imminent deal.
Whatever the reason for the settlement, it should end an 18-month saga.
A deal was reached in April 2020 between Newcastle and the buyers, but they withdrew four months later when the Premier League offered arbitration to settle a dispute over the club’s owner.
This was supposed to decide whether the Public Investment Fund was separate from the Saudi state.
The significance of the alleged hacking or alleged human rights violations by Saudi Arabia was unclear in the case, but after the Public Investment Fund was classified as a separate entity from the State, these allegations are no longer relevant.
published photo, Getty Images
Many Newcastle fans want current owner Mike Ashley to leave
This comes despite the fact that Saudi Crown Prince Mohammed bin Salman, who also heads the fund, is accused of ordering the murder of journalist Jamal Khashoggi. But ben Salman denies it.
The progress of the acquisition coincides with the announcement earlier on Wednesday that Saudi Arabia will stop illegally broadcasting the English Premier League and other football games via “beoutQ”, and lifted its ban on broadcasting the “beIN Sports” channels.
BeIN Sports has reached a £ 400million deal to broadcast Premier League games in the Middle East and North Africa over a three-year period.
This issue was at the center of the attention of the World Trade Organization, which released a report in June 2020 in which it said Saudi Arabia had helped violate international piracy laws.
Premier League chief executive Richard Masters said in a letter in August 2020 that intellectual property rights were “extremely important to the league’s business interests”.
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