Saudi-Arabia Takes Control Of Newcastle United 
Posted 9,October

By Chaveendra Dunuwille

In International News

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The public investment fund (PIF), the world’s largest sovereign wealth fund owned by the Saudi Arabian government alongside PCP Capital Partners and RB Sports & Media, are now the new owners of Newcastle United. 

The consortium acquired the soccer club in a deal worth £300 million, ending an 18-month deadlock agreement reached initially in April 2020. The deadlock was the result of PIF failing to pass the Premier Leagues owners and directors test. Intensive talks between the parties resolved this issue. 

While some fans believe that the change in ownership will bring the club out of its slump, many believe that backlash from many sectors will follow the change in ownership. This is primarily due to the murder of journalist Jamal Khashoggi, which the US government’s findings point out as a direct order from the chairman of PIF, the crown prince of Saudi Arabia.