COVID-19 Opens Opportunity For Saudi’s Newcastle Project
April 22, 2020
6:25 pm
A Saudi-backed takeover of Newcastle United appears to be nearing completion at a time when the rest of the football industry is on its knees due to the economic crisis caused by the coronavirus pandemic.
For Saudi Arabia’s Public Investment Fund (PIF), led by Crown Prince Mohammed bin Salman, the crisis presents a commercial opportunity and a chance to break into the lucrative Premier League.
But the potential £300 million ($370 million) deal, which will reportedly see the Saudi fund take an 80 percent stake in the club, is facing fierce opposition from human rights groups and one of Saudi’s …
