Newcastle takeover: £305m Saudi Arabian-backed deal completed – BBC Newsnight
As a £305m Saudi backed takeover of Premier League club Newcastle United is completed, most fans are delighted but Amnesty voices human rights concerns. Please subscribe HERE http://bit.ly/1rbfUog
The Premier League has approved the takeover after receiving “legally binding assurances” that the Saudi state would not control the club.
Instead the Public Investment Fund (PIF), which will provide 80% of funds for the deal, is seen as separate to the state.
This is despite the Crown Prince of Saudi Arabia, Mohammed bin Salman, being listed as chair of PIF.
The sale went through after the deal passed the Premier League owners’ and directors’ test.
The takeover brings to an end Mike Ashley’s 14-year spell as Newcastle United owner.
#Newsnight #BBCNews #Newcastle United
Newsnight is the BBC’s flagship news and current affairs TV programme – with analysis, debate, exclusives, and robust interviews.