Newcastle United- Saudi Arabia backed consortium takes over English football club
Saudi crown prince Mohammed bin Salman led PIF to take over the ownership of Newcastle United.
Newcastle Takeover- With a net worth of $430 billion, Newcastle United’s new owners are the richest in Premier League by some distance. A consortium back by the Saudi Arabian Public Investment Fund is a sovereign wealth fund of the kingdom of Saudi Arabia that has taken ownership of the English Premier League Club.
PIF is chaired by Saudi Crown Prince Mohammed bin Salman. PIF along with PCP Capital Partners and RB sports and media has completed the takeover of the club, Newcastle United on 7th October 2021. The club made a declaration in a statement on their official website.