Monday, October 25, 2021

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    Newcastle’s Saudi deal is shocking, not surprising

    A sad commentary on British football Acquisition of top clubs With the Saudi Arabian sovereign wealth fund, it begins to appear on a daily basis. Some Premier League clubs have already been snapped by oligarchy and dictators. Still, Saudi Arabia’s record is worse than most others. The £ 305m acquisition of Newcastle United should encourage a soul quest for a British game ownership model.

    The sale of clubs to investors led by the Saudi Arabia Public Investment Fund is subject to the highest level of lobbying. Saudi Crown Prince Mohammed bin Salman reportedly urged Prime Minister Boris Johnson to: Unblock transaction approval delays.. Although the government has denied intervention, Prince Mohammed’s intervention does not help the consortium that PIF is different from Saudi Arabia, and now the league case.

    When entrepreneur Mike Ashley, a former Newcastle owner, canceled his contract 18 months ago, the league is concerned that the club will be run by the state. Agreed to sell to consortium.. In addition to the PIF, this includes the billionaire Ruben brothers and the financier Amanda Stavely, who brokered the sale of Manchester City football club Abu Dhabi to Sheikh Mansour. By 2020, it was thought unlikely that Newcastle’s estimated buyers would pass. leagueTesting to ban ownership is considered a criminal offense in the United Kingdom if the e-act is performed abroad.

    This was a problem for the administration, which was accused of killing and dismantling major journalist Jamal Khashoggi at the Saudi Consulate in Turkey almost exactly three years ago.The United States released an intelligence report in February Concluded that Prince Mohammed approved Surgery.

    According to the league New guarantee for control It was created to pave the way for acquisitions. However, it hasn’t changed much from the plan 18 months ago. PIF is still leading the consortium. The governor of the fund, Yassel Lumayan, will chair the football club. The PIF is still chaired by Prince Mohammed, whose board of directors includes six Saudi ministers and court advisers.

    It’s this week that looks strange Conflict resolution Whether the Arabic pirate network, allegedly backed by Saudi Arabia, had stolen a program, including a league match, from a Qatar broadcaster. The dispute has represented Saudi Arabia’s broader embargo on Qatar since the settlement. Qatar, the host country of the 2022 World Cup, also owns the French club Paris Saint-Germain. Competition between Gulf rulers extends to the ownership of football clubs.

    Newcastle fan “Toon Army” seems to be swayed by the records and reputation of the Saudi Arabian administration. Their delight in the contract shows an aversion to Ashley after they feel they have been neglected for years. The promise of a rich new owner to invest in a club, suffering from the league’s relegation zone, is fascinating.

    The harsh truth is that Newcastle is only following the well-followed path of British government and city advisers. Brutal murder of Kashoghi in 2018 It must have been a turning point. However, Britain continues to sell weapons to one of its “most important” trading partners, Saudi Arabia.UK business export It will probably be in the government’s interest to allow Saudi Arabia to wash away its reputation with football club ownership.

    The Premier League is also more interested in protecting its commercial position than protecting the club from influential people with deep pockets but suspected history.In that respect, it is Almost no difference from swath At a reasonable price, the establishment of Britain will soon forget its anger.

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    The post Newcastle’s Saudi deal is shocking, not surprising appeared first on California News Times.

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