A £300 million Saudi Arabian-backed consortium has completed the takeover of Newcastle United football club, ending Mike Ashley’s 14-year ownership. The consortium is led by financier Amanda Staveley’s PCP Capital Partners, the Saudi Public Investment Fund (PIF) providing 80% of the funds, and British property investors the Reuben Brothers. PIF’s assets of £250 billion dwarf the wealth of Manchester City’s Abu Dhabi owners and Paris Saint-Germain’s Qatari owners. The completion ends a protracted 18-month process and was preceded by Qatar broadcaster beIN Sports announcing it had resolved a dispute about Premier League football matches being broadcast illegally in Saudi Arabia. Newcastle supporters — with the club second-bottom in the Premier League and winless after seven games — celebrated the end of an era 94% of supporters’ union members said was no longer in the best interests of the club.
Amnesty International urged the Premier League to change its owners’ and directors’ test “to address human rights issues.” Amnesty UK chief executive Sacha Deshmukh said: “Ever since this deal was first talked about we said it represented a clear attempt by the Saudi authorities to sportswash their appalling human rights record with the glamour of top-flight football.” The Premier League maintained that PIF is a separate entity from the Saudi state, with the consortium providing legal assurances to that effect. Critics noted that Crown Prince Mohammed bin Salman — accused of ordering the death of journalist Jamal Khashoggi, which the Kingdom’s leader denies — is listed as PIF’s chair. Newcastle supporters’ trust NUST said: “As a supporters’ organisation we will always support inclusion and be against discrimination and abuse of human rights. We will use our influence to effect change where we can.”