• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Vietnam Colors

Update Latest Travel News from Vietnam and All Around The World

  • About Us
  • Contact Us
  • Disclaimers
  • DMCA
  • Privacy Policy
  • Submit your story
  • Show Search
Hide Search
You are here: Home / Why are Newcastle United’s new owners controversial? ‘Sportswashing’ and Saudi Arabia

Why are Newcastle United’s new owners controversial? ‘Sportswashing’ and Saudi Arabia

· October 17, 2021 ·

Newcastle United play their first game under new ownership on Sunday as a new era begins for the club, which fans are expecting to be an awful lot more successful than the last one. The Saudia Arabian Public Investment Fund (PIF) now owns 80 per cent of the club, with David and Simon Reuben (RB Sports and Media) owning 10 per cent and Amanda Staveley (PCP Capital Partners) taking the final 10 per cent. Yasir Al-Rumayyan, Governor of PIF, is the new non-executive chairman and he said of the deal: 'We are extremely proud to become the new owners of Newcastle United, one of the most famous clubs in English football. 'We thank the Newcastle fans for their tremendously loyal support over the years and we are excited to work together with them.' The PIF is a sovereign wealth fund thought to be worth $430bn (£315bn), making their purchase of Newcastle for £300m small change for them. A sovereign wealth fund is a way to use the huge profits Saudi Arabia makes from fossil fuel sales, spending the money on projects around the world to spread the risk of investments, but also to try and improve the reputation of the… Read full this story

  • Saudi Arabia extends coronavirus curfew indefinitely
  • Mike Ashley puts Newcastle United up for sale
  • Saudi Arabia races to contain coronavirus in Islam’s holiest city
  • Premier League club Newcastle United set to be sold to Saudi Arabia-backed group, report says
  • Rafa Benitez would ‘jump at the chance’ to return to Newcastle as potential owner wants ex-boss back after takeover
  • Saudi Arabia delays setting May prices, looks to OPEC meeting to settle price war
  • Saudi Arabia's row with Canada: Silencing Western criticism?
  • Nicki Minaj pulls out of Jeddah concert following backlash from fans over Saudi Arabia's human rights record
  • Newcastle United crush Preston North End to seal return to Premier League
  • Saudi Arabia declares ceasefire in Yemen over coronavirus
Why are Newcastle United’s new owners controversial? ‘Sportswashing’ and Saudi Arabia have 314 words, post on metro.co.uk at October 17, 2021. This is cached page on Vietnam Colors. If you want remove this page, please contact us.

Primary Sidebar

Recent Stories

  • Scuba diver spent nearly two decades cleaning up the ocean
  • HNX to develop commodity derivative market
  • HCM City logistics sector ripe for growth: seminar
  • Digital transformation in agriculture should begin with human resources and capital
  • Private preschool teachers struggle to earn living due to pandemic

Sponsored Links

Copyright © 2021 Vietnam Colors. Power by Wordpress.
Home - About Us - Contact Us - Disclaimers - DMCA - Privacy Policy - Submit your story