Saudis taking over Newcastle United ?

[Jezza]

It would be the biggest ownership takeover story since 2008 when City's takeover by the Abu Dhabi group occurred.

If the takeover goes ahead, this would make Newcastle the wealthiest club in the Premier League by a country mile.

There will be a scrutiny for obvious reasons due to Saudi Arabia's appalling human rights record, and the need for compliance of the Financial Fair Play (FFP) rules particularly with what happened to Manchester City recently when they were banned from participating in the Champions League for essentially cooking their books.

https://www.theguardian.com/football/20 ... r-football

[Jezza]

Reports emerging that the PL has approved of the ownership change if it goes ahead.

[Chic131]

Now i've heard they are clamping down on it. Could go back and forth but they have that minority shareholder who will apparently make things seem legit. idk, its inevitable really, but why doesnt Norway's soveriegn wealth fund just buy a team if its so profitable?

[Jezza]

^ The story keeps changing.

Guess it's a matter of wait and see.

[Chic131]

Yeah the government are getting involved as per reddit.

[Jezza]

It was announced last week that the Saudis had withdrawn from their bid to takeover Newcastle.

https://theworldgame.sbs.com.au/newcast ... -pulls-out