The takeover of English premier football club Newcastle United by a Saudi consortium apparently unites the remaining 19 clubs in the resistance league. As “The Guardian” reported, the Premier League competition has called for an urgent meeting on the subject for the week ahead.
Some fear that the “PL” brand may be damaged, as the Saudi public investment fund owns around 80% of the association. The buyout of Newcastle had been approved by the league. The prerequisite for approval was that the club would not be under Saudi Arabia’s control after the takeover.
Newcomers therefore bring two things above all: power and money. A lot of money. With total assets estimated at 370 billion euros, the Public Investment Fund (PIF) is one of the largest sovereign wealth funds in the world.
The two newly rich and currently richest clubs, Manchester City and Paris Saint-Germain, which are also funded by the Arabian Peninsula, are not even starting to dispose of the monetary resources which will now be given to Newcastle. By way of comparison: the boss of the city, Sheikh Mansour bin Zayed Al Nahyan, member of the reigning family of Abu Dhabi and Deputy Prime Minister of the United Arab Emirates, has a fortune estimated at 25 billion euros, According to the Daily Mail, Paris boss Nasser Al -Khelaifi would have around 6.5 billion euros in private assets, the Qatar Sports Investment, which he headed, an offshoot of the Qatar ?? s Investment Authority (comparable to PIF), is estimated at a total volume of 220 billion. euros.
Newcastle, the penultimate table in the House of Lords, longs for the glory days to return. The last championship title to date jumped 94 years ago, the “youngest” trophy in the showcase dates from 1969, at that time the “Magpies” won the fair trophy.
Investors want to have around 220 million euros for transfers as early as the winter, and Newcastle United are already dealing with Jesse Lingard (Manchester United), Mauro Icardi (Paris Saint-Germain) and Philippe Coutinho (FC Barcelona). Coach Steve Bruce needs to be replaced, Germany’s Ralf Rangnick is very popular. You hear something similar from Lucien Favre.
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