There is big news from British soccer. The Premier League approved the takeover yesterday of Newcastle United from Saudi Arabia via the “Public Investment Fund.”
Initially, the takeover was rejected. however, after further examination, the Premier League gave its green light after receiving “legally binding assurances that the Kingdom of Saudi Arabia will not control Newcastle United Football Club.”
This is just one of the series of take over of British Clubs that happened in the last few decades. Roman Abramovich hit loud and strong the headlines after taking over Chelsea in 2003. Then also sort of acquisitions happened such as the takeovers at Manchester United (the Glazers), Liverpool (FSG), Arsenal (Kroenke), and of course at Manchester City owned by the Abu Dhabi United Group.
New Castle United is now in the Premier League relegation zone with just 3 points in 7 matches.
View this post on Instagram
