Saudi investors buy Premier League team Newcastle United
Saudi investors buy Premier League team Newcastle United

Saudi investors buy Premier League team Newcastle United

There is more Middle East influence on the English Premier League as Saudi Arabia’s Public Investment Fund (PIF) has bought Newcastle United.

And the Saudi deal could make Newcastle United the richest football team in the world!

The Saudi investors have been linked with the Premier League team for 18 months. But after a deal that’s been on and off more times than a pair of trousers, it’s now been confirmed.

The deal is worth £300m and involves Saudi Arabia’s Public Investment Fund (PIF) taking a controlling 80-per-cent stake.

That would mean the end to current owner Mike Ashley and his controversial 14-year ownership of the club.

And it could be the end for current manager Steve Bruce.

Manchester City were famously bought by Emirati Sheikh Mansour bin Zayed al-Nahyan in 2008 while Sheffield United are owned by a Saudi businessman and Prince Abdullah bin Mosaad bin Abdulaziz al-Saud.

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