Premier League's Newcastle shirt sponsor is latest Saudi investment in global sports

By The Associated PressNewcastle announced a shirt sponsor deal Friday with a Saudi Arabian company linked to the sovereign wealth fund that is the English soccer club’s majority owner and the new investor in golf's PGA Tour.

British media reported Newcastle's sponsorship by events management firm Sela is worth 25 million pounds annually on a multi-year deal. Newcastle will play in the Champions League group stage next season for the first time in 20 years after placing fourth in the Premier League. It was the first full season for Newcastle since a 300 million pound takeover in 2021 led by the Public Investment Fund which manages more than $600 billion of Saudi state wealth.

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