The English Premier League clubs are in chaos after a Saudi Arabian-led consortium bought Newcastle United. This ended the 14-year-old ownership by Mike Ashley. The Premier League had informed them weeks ago that the matter would be resolved in January. However, the clubs were angry that they did not consult them and agreed to Newcastle’s takeover by a consortium that has close connections to Saudi crown prince Mohammed bin Salman (MBS).
Premier League confirmed the APS300m takeover in a statement last Wednesday. The process was completed Monday. News in Britain has spread that the new owners are looking to fire Steve Bruce, the manager. Brendon Rodgers, a former Liverpool manager, is expected to be the main contender to take charge at St. James’ Park. The Public Investment Fund (PIF), PCP Capital Partners, and RB Sports & Media are the leaders of this investment group.
Premier League clubs are said to be ‘angry’ at their league for Newcastle United’s takeover and have requested an emergency meeting.
Although the Saudi Arabian takeover has been in the works for some time, it was rejected by the league. Many are concerned about the involvement of the Saudi Arabia Government in the deal, particularly the Saudi crown prince Mohammed Bin Salman.
The deal was back in place last week after Saudi Arabia and Qatar reached an agreement regarding streaming the beIN Sport coverage. Last Thursday, the deal between the Saudi Public Investment Fund and Mike Ashley was confirmed.
In a statement confirmating the agreement, the Premier League stated that it had received “legally binding guarantees” that Newcastle United would not be controlled by the Kingdon of Saudi Arabia.
Human rights groups are also angry at the alleged involvement by the Saudi Arabian government and bin Salman in the deal. This is in light of the alleged involvement in the assassination attempt on Jamal Khashoggi, journalist from Saudi Arabia. Also, the poor human rights record of the Saudi Arabian government.
However, on the pitch, a new billionaire will likely mean higher transfer and contract prices in league. This will undoubtedly upset some clubs in the Premier League. In the last few days, the Magpies were linked to a new team of players. The club was reportedly allowed to spend as much as APS200 million in January without violating financial fair play rules.
Nearly 11 Premier League clubs are currently owned by foreigners, including Manchester United by American Glazer and Manchester City by Mansour Bin Zayed Al Nahyan from the Emirates Royal Family. Premier League clubs should be concerned about the Qatari takeover of Par’s Saint-Germain by Nasser al-Khelaifi. The market for football transfers is already very saturated and the Saudi entry will only increase the problems of the remaining clubs.