This archive report was first published on 7 October 2021.
On October 7, 2021, the Premier League announced that Newcastle United had been sold to a Saudi Arabian-backed consortium, marking the end of a long-standing takeover saga.
The consortium, which includes the Saudi Public Investment Fund (PIF) chaired by Crown Prince Mohammed bin Salman, had previously made a 305 million pounds ($415.07 million / Sh45 billion) bid to buy the north-east club from British businessman Mike Ashley in April 2020.
However, that deal collapsed in July 2020 amid scrutiny from the Premier League, which came under pressure to stop the sale due to concerns over alleged broadcast piracy in Saudi Arabia.
After a lengthy dispute, the Premier League, Newcastle United Football Club, and St James Holdings Limited have now settled the dispute over the takeover of the club by the consortium of PIF, PCP Capital Partners, and RB Sports & Media.
The Premier League has received legally binding assurances that the Kingdom of Saudi Arabia will not control Newcastle United Football Club, paving the way for the takeover to be completed.
