The Saudi-Led Takeover Of Newcastle Has Been Completed - Sports

The Saudi-Led Takeover Of Newcastle Has Been Completed - Sports - Nairaland

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The Saudi-Led Takeover Of Newcastle Has Been Completed by Mbamally(op): 5:33pm On Oct 07, 2021

Newcastle Takeover: Saudi-led consortium complete deal for club

TAKEOVER COMPLETE

A Premier League statement read: "The 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 & Media.

"Following the completion of the Premier League's Owners' and Directors' Test, the club has been sold to the consortium with immediate effect."

The 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 & Media.

— Premier League Communications (@PLComms) October 7, 2021

WHAT HAPPENS NOW?

A Saudi-led consortium are set to complete their takeover of Newcastle United bringing Mike Ashley's 14-year ownership of the club to an end, but what does it mean going forward?

The takeover will involve Saudi Arabia's Public Investment Fund (PIF) taking a controlling 80 per cent stake in the club, with the purchasing consortium led by Amanda Staveley.

Sky Sports News reporter Keith Downie explains how and why Newcastle are on the verge of becoming one of the richest football clubs on the planet.

NEWCASTLE'S NEW OWNERS 'EXTREMELY PROUD'

Newcastle's new owners have released a statement following the confirmation the takeover has been completed.

Commenting on the agreement, His Excellency Yasir Al-Rumayyan, Governor of PIF, said: "We are extremely proud to become the new owners of Newcastle United, one of the most famous clubs in English football.

"We thank the Newcastle fans for their tremendously loyal support over the years and we are excited to work together with them."

https://www.skysports.com/football/live-blog/11095/12427975/newcastle-takeover-saudi-led-consortium-hopeful-of-announcing-deal-for-club-on-thursday-live

16 Likes 1 Share

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by Hardgun: 5:45pm On Oct 07, 2021*

FTC make this small club con dey go champions league now Barca is in trouble

78 Likes 4 Shares

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by Olaoluwa112(m): 5:45pm On Oct 07, 2021

But money dey that Arab countries, only God knows how much Bubu done borrow from those people, like they way them dey mention billions dollars, Bubu body no fit take am, e go don borrow.

Las las Emirates cup dem no go still win, with all the money, person wey suppose buy Barcelona or one great club, Newcastle na scam.

68 Likes 7 Shares

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by wunmi590(m): 5:47pm On Oct 07, 2021

This is another great news for the football lover...

Every monopoly by some teams winning wpukd be broken...

16 Likes 1 Share

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by Bowwow11(m): 5:47pm On Oct 07, 2021

Nice development

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by Bornsinner7: 5:47pm On Oct 07, 2021

More title contenders

5 Likes

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by azpekuliar: 5:48pm On Oct 07, 2021

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by GboyegaD(m): 5:48pm On Oct 07, 2021

Nice, New Castle now has more funds to buy stronger players.

17 Likes

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by obonujoker(m): 5:48pm On Oct 07, 2021

Maybe Pep go run go Newcastle now as usual... grin

Moneyola

66 Likes 1 Share

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by RedEnergy: 5:48pm On Oct 07, 2021

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by HEAVEN4444: 5:48pm On Oct 07, 2021

islamabad

32 Likes 5 Shares

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by jericco1(m): 5:48pm On Oct 07, 2021

Another Manchester City in the making

13 Likes

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by longetivity(m): 5:48pm On Oct 07, 2021

Newcastle United will win the champions league grin

8 Likes

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by twin7: 5:48pm On Oct 07, 2021

Top 4 race go turn Presidential election debate now...

8 Likes

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by BeeBeeOoh(m): 5:48pm On Oct 07, 2021*

If you're an Arsenal fan pray for God to remove any Stan Kraonke in your life. Pray this prayer with all seriousness angry

47 Likes 2 Shares

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by vibbb: 5:48pm On Oct 07, 2021

#ArabMoney. Turning point for Newcastle United, I used to be a big fan during the days of Obafemi Martins. The story of Manchester City comes to mind, now one of the deadliest and dangerous team in the world. Congratulations to Newcastle fans.

37 Likes 1 Share

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by Damidave1124(m): 5:49pm On Oct 07, 2021

They'll soon become one of the favorite to win the premiere league.
Watch as they will pump money to buy world class players and coach.

Arab money na OGUN OWO

18 Likes

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by hogan680: 5:49pm On Oct 07, 2021

Wow
This is gonna be interesting

4 Likes

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by Richy4(m): 5:49pm On Oct 07, 2021

Nice...So with this money pumped into Newcastle, The club will be making front page very soon each time they were playing here on Nairaland like Manchester City abi cool

16 Likes 1 Share

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by longetivity(m): 5:49pm On Oct 07, 2021

HEAVEN4444:
islamabad

you can do better

1 Like

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by shegzhkn: 5:49pm On Oct 07, 2021

MBS is bad news in that part of the world, let see how it plays out.

2 Likes

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by froshroy(m): 5:49pm On Oct 07, 2021

Make dem survive relegation this season first

1 Like

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by Ayemileto(m): 5:49pm On Oct 07, 2021

Newcastle is now officially a big club. grin

2 Likes

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by DoggoneDogg: 5:49pm On Oct 07, 2021

Give it 3 years & Newcastle United fans go spring up for Naija. grin

What Nigerians cannot bastardize does not exist.

54 Likes 1 Share

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by Gotze1: 5:49pm On Oct 07, 2021

Chai Arsenal o

5 Likes

Re: The Saudi-Led Takeover Of Newcastle Has Been Completed by MITCHELL96: 5:50pm On Oct 07, 2021*

Omo! See as Newcastle's Life Change, Like Play, Like Play, There's So Much Money In Football Mehnn!!!! shocked

DON'T be surprised, Newcastle might start bidding for those big names like Haaland, Mbappe, Rashford, Etc. Just watchout, Proud Of Them shaa, At least, That Maximin can start earning over 200k per week, the nigga is talented and has tried for the club.

Football Is Life! ❤️ cool

22 Likes