Jeddah: Leading English Premier League club Newcastle United is now owned by Saudi. The club is owned by the Saudi Crown Prince’s Public Investment Fund. After months of negotiations, the Saudis acquired 100 per cent ownership of the club. The club was bought by a public investment fund of Rs 2,200 crore.
Newcastle United fans will be celebrating the £300M Saudi-backed takeover of their club well in to the night ⚫️⚪️ pic.twitter.com/EqPWvMuAUb
— Football Daily (@footballdaily) October 7, 2021
Newcastle United is an English professional football club based in Upton, Newcastle. The club was formed in 1892 by the merger of two clubs, Newcastle East End and Newcastle West End. St. James’ Park is Newcastle’s home ground.
The club are currently 12th in the Premier League points table. The club is also known by the nicknames The Magpies and The Toon. Newcastle have an active presence in the English Premier League, except three times. The club has won four league titles. Football fans are hopeful that with the acquisition of the team by Saudi Arabia, key players will be added to the team and the team’s game will improve. Saudi Arabia has lifted a ban on Bean Sports, a Qatari channel that broadcasts the game, following the acquisition of English Premier League club Newcastle by United.
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