The ban, related to the Gulf kingdom's now-resolved blockade of Qatar, is now lifted, allowing Premier League, UEFA and FIFA matches to air again. The purchase, for a reported £300 million ($409 million), ends British billionaire businessman Mike Ashley's 14-year ownership of the team, and will give the Saudi consortium 80% ownership, with a further 10% going to property developers Simon and David Reuben and another 10% to British investor Amanda Staveley's PCP Capital Partners.Ī major obstacle to the Saudi Public Investment Fund's buyout of the English team was concern over the Saudi state's involvement in the team's affairs.Īn earlier buyout deal was ditched in 2020 when the consortium couldn't prove sufficient separation between themselves and the Saudi state, which is led by Crown Prince Mohammed bin Salman.Īnother barrier preventing the Saudi-led group from taking over Newcastle United was also lifted Thursday: A broadcasting complaint from neighboring Qatar's Middle Eastern Premier League rights holder beIN Sport, demanding Saudi Arabia lift its four-year ban on the sport channel.
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