PIF is part of a financial consortium that also includes PCP Capital Partners and RB Sports & Media.
The saga is over, a new era for Newcastle
Fourteen months ago, a club facing serious financial difficulties received an offer from the Public Investment Fund worth $415 million. But at the time, club owner Mike Ashley was denied permission to sell.
Only after lengthy negotiations did the Premier League accept the offer on Thursday, and it was granted immediate enforceability status.
Yasser Al-Rumayyan, head of the Public Investment Fund, who will be the club’s president, said the contract is long-term.
We are very proud to be the new owners of Newcastle United, one of the most popular football clubs in England. Al-Rumayyan said: “We thank the Newcastle fans for their incredibly loyal support over the years and we are excited to work with them.
His Excellency Yasser Al-Rumayyan, Governor of the Public Investment Fund.
– Newcastle United (NUFC) October 7, 2021
In this way, he thanked the fans gathered in front of St James’ Park, who had forced the previous owner to sell.
Even Manchester City doesn’t have that kind of money
Amanda Staffeli oversaw the purchase of 100 percent of the shares on behalf of the Public Investment Fund. Now – as you might expect – Newcastle will be one of the richest clubs, not only in the British Isles, but also in the world. It is estimated that the new owners have several times more assets than the elders of Manchester City.
Newcastle is one of the oldest English clubs. Nevertheless, he celebrated his greatest success at the beginning of the twentieth century.
However, in the seven rounds of the current Premier League season, the “Magpie” team has not yet won. In the league table with three-point achievements, they took the penultimate place – 19th place.
Author: by / TG
Source: PAP, eurosport.pl
“Unapologetic communicator. Web nerd. Internet junkie. Gamer. Hipster-friendly entrepreneur.”