The proposed takeover of Newcastle United by a Saudi-backed investment fund has been called off. Liverpool's Maxi Rodriguez (left) celebrates with his team-mates Fernando Torres (right) and Steven Second, and more importantly, is that the asset FSG purchased was already worth a lot more than Newcastle United. "As often occurs with proposed investments in uncertain periods, time itself became an enemy of the transaction, particularly during this difficult phase marked by the many real challenges facing us all from The board of the Premier League had been carrying out an examination of the proposed takeover as part of its "owners and directors test", which evaluates the suitability of ownership groups.Papers regarding the proposed takeover were lodged with the Premier League in April, but no further details had been forthcoming since then.Amnesty International had asked the Premier League to consider blocking the takeover because the fund was overseen by Bin Salman, accusing him of being involved in a "sweeping crackdown on human rights. Newcastle fans’ disappointment at this week’s news suggests they are well aware of that.I’m a football (soccer) writer who follows what’s happening in the game across the world, from Southampton to Sapporo and everywhere in between. (United Trinity) George Best, Denis Law, Bobby Charlton: Old Trafford, Manchester 2008 Philip Jackson Sir Alex Ferguson: Old Trafford, Manchester 2012 Philip Jackson Peter Osgood: Stamford Bridge, London 2010 Philip Jackson Brian Clough and Peter Taylor: Pride Park, Derby: 2010 Andy Edwards: Brian Clough Old Market Square, Nottingham: 2008 Mauriss can say he wants to copy FSG’s model of success all he wants, actually doing so is another matter entirely. View the latest comprehensive Newcastle United FC match stats, along with a season by season archive, on the official website of the Premier League.
To challenge for the title on a regular basis, clubs need to not just spend, they need to be able to match Manchester City’s spending. Newcastle would already be playing catch-up – even building a squad that could compete for the Europa League would require significant investment. 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. 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.
Fans are caught in the middle, no matter how many season tickets and replica shirts they buy, their team’s fate is completely in the hands of whichever billionaire owns it.Newcastle United have been on the market for several years, with Mike Ashley wanting to sell the club but nobody willing to meet his price. Mike Ashley, is Let’s look a little bit higher up the list. 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. 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. Search. When the third most wealthy people in the UK are only willing to be minor investors in the club, that should show the scale of the investment needed to compete at the top end of the Premier League.As for Henry Mauriss, the supposed rival bidder who claims to have similar visions for Newcastle United as Fenway Sports had for Liverpool, nobody quite knows his net worth, as Mauriss doesn’t appear on any rich lists. I also present a football videocast here in Seoul, and my articles have been translated into Korean and Chinese. 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. I Wish I Was A Geordie - The Blog of Newcastle United in the US.
He certainly isn’t in the same ballpark as the $380 billion Saudi PIF.
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