Retail Crowd

Complete British News World

English clubs were upset with the wealthy Saudi owner of Newcastle

19 clubs at the forefront of English football began an emergency meeting after Newcastle United fell to a consortium with a Saudi background on Thursday. Thus one of the world’s largest public investment funds is expected to inject a lot of money into the team. Premier League clubs were notified of the deal the day before the deal. They cannot torpedo the sale, but they are waiting for answers to their questions from the FA.

Closed on Thursdayz The sale of Newcastle United In the Premier League, the club was bought by a consortium with a Saudi-Arab background from Mike Ashley, which will dispose of its stake after 14 years. Fans celebrated the news, in the name of One of the richest club owners in the world The team, which can have almost unlimited financial resources, takes over.

The consortium, which is buying the association, consists of a US$430 billion Saudi sovereign wealth fund (PIF) and companies called PCP Capital Partners and RB Sports and Media.

Premier League clubs say the verdict on one of the world’s most watched leagues could get much worse because of the deal.

Earlier, human rights defender Amnesty International urged PL management to investigate owners and managers over human rights issues.

Other NGOs say there may be suspicion that the kingdom’s leadership is seeking to improve its governance through similar sporting investments.

Clubs were informed of the sale plan via the media before Thursday’s announcement –

Guardian Books.

Holding the extraordinary meeting is not meant to frustrate the business because there is no way to do it anymore, but clubs are curious about what has changed since last April, when the Saudis actually tried once.

READ  NBA: The only win of a league title is the Bucks

The PIF had previously wanted to take over the club, but 14 months ago withdrew its £305m bid after the Premier League had not given its approval for the sale.

The situation changed this week because Qatar’s beIN Sports, owner of the Premier League, said on Wednesday that Saudi Arabia would lift the ban on the channel so far and would also halt illegal broadcasting services.

It was also an important step for the Premier League to obtain “legally binding” confirmation that there will be a clear separation between the Public Investment Fund and the Saudi state, despite the fact that the head of the Public Investment Fund, Mohammed bin Salman, is heir to the throne in Saudi Arabia. The Arabian Peninsula.

political reactions

The case also hit political waves after the left-wing opposition tried to extract capital from it.

The shadow sports minister of the opposition Labor Party criticized the coalition for approving the deal. Allison McGovern says British football has failed. The left was expecting tougher and more determined action from the FA.

On the other hand, the government and the sport’s supervising portfolio have deliberately stayed away from the case. In their view, this is a matter for the Premier League, and since commercial relations between the UK and Saudi Arabia are active, it would be pointless to torpedo the sale.