{"id":114085,"date":"2021-10-13T10:38:14","date_gmt":"2021-10-13T02:38:14","guid":{"rendered":"https:\/\/dafabetsports.com\/en\/?p=114085"},"modified":"2021-10-13T20:46:21","modified_gmt":"2021-10-13T12:46:21","slug":"newcastle-united-officially-sold-to-saudi-wealth-fund-following-months-of-negotiations","status":"publish","type":"post","link":"https:\/\/dafabetsports.com\/en\/football\/newcastle-united-officially-sold-to-saudi-wealth-fund-following-months-of-negotiations-114085.html","title":{"rendered":"Newcastle United Officially Sold to Saudi Wealth Fund Following Months of Negotiations"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" width=\"620\" height=\"350\" src=\"https:\/\/dafabetsports.com\/en\/wp-content\/uploads\/2021\/10\/Newcastle-United.jpg\" alt=\"\" class=\"alignnone size-full wp-image-114086\" srcset=\"https:\/\/dafabetsports.com\/en\/wp-content\/uploads\/2021\/10\/Newcastle-United.jpg 620w, https:\/\/dafabetsports.com\/en\/wp-content\/uploads\/2021\/10\/Newcastle-United-250x141.jpg 250w, https:\/\/dafabetsports.com\/en\/wp-content\/uploads\/2021\/10\/Newcastle-United-120x68.jpg 120w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\" \/><\/p>\n<div class=\"button-container\">\n<div class=\"button-align\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/dafa07.net\/DFBSPMY-REG1\"><img alt=\"\"src=\"https:\/\/www.dafabetsports.com\/en\/wp-content\/themes\/unspoken\/images\/join-now.png\" \/><\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/dafa07.net\/DFBSPMY-1\"><img decoding=\"async\" alt=\"\" src=\"https:\/\/www.dafabetsports.com\/en\/wp-content\/themes\/unspoken\/images\/view-market.png\" \/><\/a><\/div>\n<\/div>\n<div class='content-column one_fourth'><p><strong>Share this story<\/strong><\/p>\n<p><!-- AddThis Button BEGIN --><\/p>\n<div class=\"addthis_toolbox addthis_default_style\">\n<a class=\"addthis_button_facebook_like\" fb:like:layout=\"button_count\"><\/a><br \/>\n<a class=\"addthis_button_tweet\"><\/a><br \/>\n<a class=\"addthis_button_google_plusone\" g:plusone:size=\"medium\"><\/a><br \/>\n<a class=\"addthis_button_pinterest_pinit\" pi:pinit:url=\"https:\/\/www.dafabet.com\" pi:pinit:media=\"#\" pi:pinit:layout=\"horizontal\"><\/a>\n<\/div>\n<p><script type=\"text\/javascript\" src=\"\/\/s7.addthis.com\/js\/300\/addthis_widget.js#pubid=undefined\"><\/script><br \/>\n<!-- AddThis Button END --><br \/><\/div>\n<div class=\"three-fourth\">\n<p>Newcastle United and its connection with billionaire businessman Mike Ashley is officially over after 14 years as a consortium led by Saudi Arabia&#8217;s sovereign wealth fund purchased the club for a reported \u00a3300 million ($409 million).<\/p>\n<p>\u201cToday\u2019s announcement is the conclusion of a thorough and detailed process that has allowed the Investment Group to arrive at a deal that benefits all stakeholders and will leave Newcastle United well-placed to pursue a clear, long-term strategy,\u201d an official statement said.  <\/p>\n<p>This Saudi Public Investment Fund will now own 80% of the club with 10% going to properly developers, and 10% to British investor Amanda Staveley&#8217;s PCP Capital Partners. <\/p>\n<p>\u201cWe\u2019re incredibly proud to be custodians of the most incredible football club in the world,\u201d Staveley said.  told the BBC, even as the team languishes in the Premier League\u2019s relegation zone. \u201cWe want the fans to trust us. We will listen to your voices and hope to get the rewards the fans richly deserve.\u201d    <\/p>\n<p>Newcastle has not won a major domestic trophy in 66-plus years. <\/p>\n<p>\u201cWe obviously want to see trophies,\u201d she added. \u201cThat\u2019s what every new owner will probably say on day one. But we really do.\u201d<\/p>\n<p>Staveley is well-known for helping put together the 2008 purchase of Manchester City by Sheikh Mansour. <\/p>\n<p> \u201cThe 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 &#038; Media,\u201d the official statement from the Premier League said. \u201cFollowing the completion of the Premier League&#8217;s Owners&#8217; and Directors&#8217; Test, the club has been sold to the consortium with immediate effect. The legal disputes concerned which entities would own and\/or have the ability to control the club following the takeover.\u201d<\/p>\n<p>Despite the official statement, there are still plenty of ongoing discussions on this deal putting the Premier League in poor standing given the Saudi connection to certain human rights violations. <\/p>\n<p>\u201cEver since this deal was first talked about we said it represented a clear attempt by the Saudi authorities to sportswash their appalling human rights record with the glamour of top-flight football,\u201d UK chief executive Sacha Deshmukh said. <\/p>\n<p>According a survey in late 2020, about 97 percent of Newcastle United fans were in support of a Saudi takeover, despite said ethical connections. <\/p>\n<p>&#8220;Pass the takeover, let us dream again,&#8221; a Newcastle United&#8217;s fan read back in July during a protest at Downing Street. <\/p>\n<p>Newcastle is now the richest club in sport, worldwide. <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"Newcastle United and its connection with billionaire businessman Mike Ashley is officially over after 14 years as a consortium led by Saudi Arabia&#8217;s sovereign wealth fund purchased the club for a reported \u00a3300 million ($409 million). \u201cToday\u2019s announcement is the conclusion of a thorough and detailed process that has allowed the Investment Group to arrive at a deal that benefits all stakeholders and will leave Newcastle United well-placed to pursue a clear, long-term strategy,\u201d an official statement said. This Saudi Public Investment Fund will now own 80% of the club with 10% going to properly developers, and 10% to British investor Amanda Staveley&#8217;s PCP Capital Partners. \u201cWe\u2019re incredibly proud to be custodians of the most incredible football club in the world,\u201d Staveley said. told the BBC, even as the team languishes in the Premier League\u2019s relegation zone. \u201cWe want the fans to trust us. We will listen to your voices and hope to get the rewards the fans richly deserve.\u201d Newcastle has not won a major domestic trophy in 66-plus years. \u201cWe obviously want to see trophies,\u201d she added. \u201cThat\u2019s what every new owner will probably say on day one. But we really do.\u201d Staveley is well-known for helping put","protected":false},"author":43,"featured_media":114088,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-114085","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-football"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Newcastle United Officially Sold to Saudi Wealth Fund Following Months of Negotiations<\/title>\n<meta name=\"description\" content=\"Newcastle United and its connection with billionaire businessman Mike Ashley is officially over after 14 years as a consortium led by Saudi Arabia&#039;s sovereign wealth fund purchased the club for a reported \u00a3300 million ($409 million).\" \/>\n<meta name=\"robots\" content=\"index, follow, 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