Premier League Approves Saudi-Led Takeover Of Newcastle United

Premier League Approves Saudi-Led Takeover Of Newcastle United 2
(FILES) In this file photograph taken on June 21, 2020. A common view of the stadium in the course of the English Premier League soccer match between Newcastle United and Sheffield United at St James’ Park in Newcastle-upon-Tyne, north-east England on June 21, 2020. (Photo by OWEN HUMPHREYS / POOL / AFP)

 

The Saudi-led takeover of Newcastle United has been authorized, the Premier League introduced on Thursday.

“The Premier League, Newcastle United Football Club and St James Holdings Limited have today settled the dispute over the takeover of the club by the consortium of PIF, PCP Capital Partners and RB Sports & Media,” the Premier League stated in a press release.

“Following the completion of the Premier League’s owners’ and directors’ Test, the club has been sold to the consortium with immediate effect.”

The deal went forward regardless of warnings from Amnesty International that it represents “sportswashing” of the Gulf kingdom’s human rights document.

It brings to an finish Newcastle’s 14 years of possession beneath Mike Ashley.

Public Investment Fund (PIF) governor Yasir Al-Rumayyan stated: “We are extraordinarily proud to turn out to be the brand new homeowners of Newcastle United, one of the vital well-known golf equipment in English soccer.

“We thank the Newcastle fans for their tremendously loyal support over the years and we are excited to work together with them.”

Amanda Staveley, chief government officer of PCP Capital Partners, stated: “This is a long-term investment. We are excited about the future prospects for Newcastle United.”

AFP

Leave a Reply

Your email address will not be published.

Premier League Approves Saudi-Led Takeover Of Newcastle United

Send this to a friend