Newcastle United purchase by Saudi group is completed

While criticized by human rights groups, the sale of the Premier League team to Saudi Arabia's Public Investment Fund was met with joy by fans.
Newcastle United purchase by Saudi group is completed

A group of investors, led by P.I.F., chaired by crown prince Mohammed bin Salman has completed its purchase of Newcastle United on Thursday. Fans rejoiced and celebrated in the streets, while the media once again brought up the incident of Jamal Khashoggi.

Yasir al-Rumayyan, the governor of the P.I.F., will serve as Newcastle’s nonexecutive chairman, with Amanda Staveley, a British businesswoman, and Jamie Reuben, a billionaire property investor, also sitting on the club’s newly constituted board.

In recent years, Newcastle United had been named an "underachieving club" and the sale now finds it at the top of the list of future contenders in world sports.

There could have been one obstacle with the sale to the Saudi-led consortium with Qatari sports network beIN Sport -- one of the Premier League’s most lucrative broadcast partners -- which had been banned in Saudi Arabia since 2017. But it also emerged on Wednesday, that Saudi had lifted its ban on beIN.

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