Newcastle, a once-influential club in the English Premier League, has acquired the Saudi-owned consortium Saudi Public Investment Fund (PIF), PCP Capital Partners, and Arabic Sports Media.
Newcastle fans reaction after official takeover, here from St James’ Park. Exciting times are expected for the Magpies. ⚪️⚫️ #NUFC
— Fabrizio Romano (@FabrizioRomano) October 7, 2021
Saudi Crown Prince Mohammed bin Salman is the head of the PIF fund, The club was owned by British billionaire Ashley for 1 year. Which has now passed under the Saudi Crown Prince Mohammed bin Salman.
English Premier League officials confirmed the information in a statement on Thursday, “PIF, PCP Capital Partners, and the Arab Sports Media Consortium have ended their dispute over the ownership of Premier League clubs Newcastle United and St James’s Holdings Ltd,” he said. Simultaneously, Newcastle United was sold to this consortium.
Saudi businessman and president of Saudi Aramco, the country’s oil company, Yasser Al-Rumayyan, is the governor of the Public Investment Fund (PIF).
“We are very proud to be the new owners of Newcastle United,” he said after taking ownership of Newcastle. It is one of the most famous English football clubs.
Meanwhile, Newcastle Club fans are overwhelmed by such reports. He hopes the club will do something good in the EPL by getting rid of Ashley.
To cheer him up, a crowd gathered in front of the club (in St. James’s Park).