A Saudi-backed takeover Newcastle got the green light from the Premier League despite warnings from Amnesty International that the deal represents"sportswashing" of the Gulf state's human rights record. An investment group fronted by the Saudi Public Investment Fund , PCP Capital Partners and billionaire brothers David and Simon Reuben, struck a deal worth a reported £300 million to buy the club from unpopular owner Mike Ashley in April 2020.
But an influx of Saudi cash could herald a new era for one of England’s most passionately supported clubs, who can boast attendances often above 50,000 despite decades of failure. “Under this ownership there has been no ambition, effectively no investment and no hope for a sporting entity that hasn’t been a sporting entity. It’s been there to survive and nothing more.”He briefly handed his company, Sports Direct, naming rights to the club’s St James’ Park stadium in 2011, while there have been several disputes over ticket prices and refunds for matches played behind closed doors due to the coronavirus pandemic.
The controversial Newcastle takeover bid hit the rocks last year after an outcry from Qatar-based beIN Sports, a major television rights holder of the Premier League, which was banned by Saudi Arabia in 2017. The country faced international condemnation following the brutal murder of Saudi dissident Jamal Khashoggi in the kingdom’s Istanbul consulate three years ago.
One of the best things I love about investing with markdonaldlisaT is that you only see positive results and see good winnings at all times from the platform. Just hard work, passion and revolutionizing the market as we know it.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
HILARY JOFFE: Insfrastructure-led recovery means ... investment in infrastructureEndless conferences won't lead to any economic benefit unless the government does what it says it wants to do, writes Hilary Joffe Taking care of my debts and giving my daughter the best financially is what I’ve long waited for, thank you for helping me gain financial freedom markdonaldlisaT
Source: BDliveSA - 🏆 12. / 63 Read more »