Newcastle United sold to Saudi wealth fund

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When it comes to money, Newcastle United will soon be the highest club in Europe.

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running news: The 129-year-old English club has been acquired by a consortium led by Saudi Arabia’s Public Investment Fund (PIF) for $409 million, or about 0.09% of the fund’s total value.

By numbers: Newcastle’s new owners are worth $435.8 billion, more than five times the value of the next nine richest owners in the league. Joint.

  • Newcastle United: PIF ($435.8 billion)
  • Manchester City: Sheikh Mansoor ($31.2B)
  • Chelsea: Roman Abramovich ($13.1B)
  • Arsenal: Stan Kroenke ($8.7B)
  • Aston Villa: Nassef Saviris ($7.2B)
  • Wolverhampton: Guo Guangchang ($6.1B)
  • Tottenham: Joe Lewis ($4.9B)
  • Manchester United: Glazers ($4.8B)
  • Palace of Diamonds: Joshua Harris ($4.6B)
  • Leicester City: Ayyavat Shrivardhanprabha ($4B)
Newcastle fans celebrating the sale. Photo: Michael Driver/NurPhoto via Getty Images
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What are they saying: The deal has long been opposed by groups such as Amnesty International, which it admits “A clear attempt by the Saudi authorities to sport their appalling human rights record.”

“It hasn’t been a good run [Newcastle]But, like disgruntled blogger Raif Badawi, average 13th-rankers are not being punished with 50 whippings a week for 20 weeks. But who cares about human rights when you’re finally signing a center forward?”

Jonathan Wilson, SI (contribution)

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On the other end: Premier League They say The sale took place only because it had received a “legally binding assurance” that the PIF was separate from the Kingdom of Saudi, which would have no control over Newcastle.

big picture: Newcastle deal is Gulf money’s latest investment in a European club, and the success of others Newcastle fans giddy On the idea of ​​emerging from my own trophy-less desert.

  • Manchester City: When Sheikh Mansour of Abu Dhabi bought the club in 2008, they had never won a league title. Since then, the superstar-laden City has won five of them, building a global brand.
  • Paris Saint Germain: When Qatar’s Nasser al-Khelaifi took control in 2011, PSG had not won a Ligue 1 title in nearly 20 years. He has won seven since then, signing the likes of Neymar and Lionel Messi.

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