2023-07-13 11:18:46
However, the football club ownership landscape has changed dramatically in recent years, with wealthy investors from the USA and the Middle East looking to increase their holdings in the world’s most popular sport. Multi-ownership is now commonplace in football, with proponents seeing it as providing the ability to save costs by sharing data and players across teams, and forging more lucrative business deals. While critics consider that this model kills competition, absorbing assets and players from small teams in favor of the bigger names within the portfolio of clubs belonging to the owners themselves.
Saudi investment “Al-Raseen” ascends Newcastle club to the Champions League
The Saudi Public Investment Fund led the £300m ($391m) takeover of Newcastle United in 2021, with Jamie Robben and Amanda Staveley from the UK as minority investors. Since then, the owners have invested heavily in the Premier League club, which will compete in the lucrative Champions League next season for the first time in 20 years.
The Saudi fund has recently been exploring potential investment opportunities in European football, including the Belgian club “KV Oostende”, but its curators were waiting for a clarification of UEFA’s position on multi-ownership clubs before moving forward with any new acquisition. , said the insider.
A PIF representative could not immediately comment, while a Newcastle United spokesperson declined to comment.
Newspaper: Saudi Arabia is considering establishing a sports investment company
The acquisition of Newcastle United remains one of Saudi Arabia’s most high-profile sports investments to date. And the “Kingdom’s Vision 2030” adopted sports as a main pillar in efforts to diversify its economy, enhance tourism, and gain more influence. In recent weeks, Saudi Arabia has taken great steps to develop its local football league by investing the fund and major companies in a group of local teams, and paying high sums to attract international stars to the Kingdom’s league, including many English Premier League players.
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