This club… will always attract interest.” The Guardian’s Barney Ronay wrote “Other rich people are available.” But while its true that there are people rich enough to buy a Premier League club, there isn’t some long line of investors ready to throw a billion dollars into the bottomless pit of transfer fees that is required for Newcastle United to challenge for the Premier League title.A very rich person already owns Newcastle United Football Club. After all, there are plenty of soccer clubs whose owners are less than squeaky clean. Liverpool FC at St. James Park on July 26, 2020. Mike Ashley, is Let’s look a little bit higher up the list. The Saudi Arabia PIF-backed takeover of Newcastle United has seemingly collapsed, and while Newcastle will eventually find another buyer, that buyer won't be … "The fact that this sportswashing bid has failed will be seen by human rights defenders in Saudi Arabia as a sign that their suffering has not been entirely overlooked," Amnesty's Peter Frankental said. The home of Newcastle United Football Club fans in the United States. In the case of teams backed, directly or indirectly through nation states, some of that return on investment comes in the form of soft power.It would be wistful thinking to assume human rights issues were the reason this deal didn’t happen. Andy Carroll of Newcastle United FC during the Premier League match between Newcastle United and The takeover of Newcastle United by a Saudi Arabian-backed group appears to have collapsed this week, with the group pulling out after losing patience with the seemingly never-ending review of the takeover by the Premier League. Well, The Reuben brothers’ 10% share reflects the gap in wealth between them and Saudi Arabia’s PIF. Search. "Numerous peaceful Saudi human rights activists are currently behind bars, and of course a Saudi journalist was grotesquely murdered by agents of the Saudi state less than two years ago.In addition, the World Trade Organisation (WTO) recently ruled that Saudi Arabia failed to stop a broadcasting operation pirating sports coverage - including of top flight games in England.The WTO also said that Riyadh blocked moves to shut it down because of its dispute with Qatar.The Qatar-owned beIN Sports network, which is banned in Saudi Arabia, holds the Middle East rights that are being pirated by beoutQ.In February, the Premier League wrote to the Office of the United States Trade Representative to raise the lack of legal action taken by Saudi Arabia over beoutQ. There are few groups in the world who are willing to spend that much money, and those that are willing to do so still want a return on their investment. ABOUT THIS SITE. If buyers are quibbling over tens of millions of dollars, they probably won’t be willing to chuck hundreds of millions of dollars into transfers in order to take Newcastle to the next level. Mauriss can say he wants to copy FSG’s model of success all he wants, actually doing so is another matter entirely. Newcastle United: Saudi-led group calls off takeover of Premier League club The group, which included Saudi Arabia's sovereign wealth fund PIF, PCP Capital Partners and Reuben Brothers, made a £300m bid to buy the Premier League side earlier this year. Many Newcastle United fans had been keen to see the takeover go ahead, dreaming of a day in the near future when they could be challenging for the title like Newcastle were under Kevin Keegan in the 90s. The proposed takeover of Newcastle United by a Saudi-backed investment fund has been called off.The group, which included Saudi Arabia's sovereign wealth fund PIF, PCP Capital Partners and Reuben Brothers, made a £300m bid to buy the Premier League side earlier this year.But the process was held up by concerns about piracy by the kingdom and human rights complaints.Hatice Cengiz, the fiancee of murdered journalist and Saudi critic The assassination and dismemberment of Mr Khashoggi inside the Saudi Consulate in Istanbul in late 2018 has been linked to Saudi Crown Prince Mohammed bin Salman, who oversees the fund.The British-based Reuben brothers and financier Amanda Staveley were planning to each buy the remaining 10% stakes, therefore ending the ownership of Sports Direct boss Mike Ashley.They said in a statement that decision had been made with "regret" and was down to the worldwide uncertainty caused by the "Ultimately, during the unforeseeably prolonged process, the commercial agreement between the Investment Group and the club's owners expired and our investment thesis could not be sustained, particularly with no clarity as to the circumstances under which the next season will start and the new norms that will arise for matches, training and other activities," the statement continued.
The truth is, there are plenty of billionaires in the world, but there aren’t that many who are willing to burn through a billion dollars on transfer fees that they will never see again. (Photo by Serena Taylor/Newcastle United via Getty Images) Gerrard (centre) after scoring the only goal of the game against Bolton Wanderers in October 2010 (Photo by Neal Simpson - PA Images via Getty Images)
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