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October 7, 2021
By James Benge
(CBS Sports) -- A takeover of Newcastle United by a consortium led by the Saudi Arabian Public Investment Fund (PIF) is complete. Its ramifications on the Premier League and beyond could be vast.
For Newcastle fans, it means an end to 14 dour years under current owner Mike Ashley and indeed the deal has been greeted with a jubilance in the north east arguably not witnessed since local boy-come-good Alan Shearer signed for a then-world record fee in the summer of 1996. However, the involvement of the PIF has brought with it the suggestion that the Magpies will serve as nothing more than a sportswashing project for the Saudi Arabian regime.
A statement from the Premier League today confirmed: "The Premier League, Newcastle United Football Club and St James Holdings Limited have today settled the dispute over the takeover of the club by the consortium of PIF, PCP Capital Partners and RB Sports & Media.
"Following the completion of the Premier League's Owners' and Directors' Test, the club has been sold to the consortium with immediate effect. The legal disputes concerned which entities would own and/or have the ability to control the club following the takeover.
"All parties have agreed the settlement is necessary to end the long uncertainty for fans over the club's ownership. The Premier League has now received legally binding assurances that the Kingdom of Saudi Arabia will not control Newcastle United Football Club.
"All parties are pleased to have concluded this process which gives certainty and clarity to Newcastle United Football Club and their fans."
Here is what you need to know about this landmark moment in Premier League history.
#Newcastle United#Saudi Arabia#Mohammed bin Salman#Mike Ashley#Premier League#Amnesty Internatinoal#human rights#Manchester City#PSG#sportswashing#CBS#CBS Sports#news
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Presenting Jamnesty Festival 2015
Preview: Jamnesty Festival 2015 with @GUAmnesty
On its third birthday, Jamnesty has grown up fast. This year, returning to Stereo over two days on November 21st and 22nd, GU Amnesty International presents a festival of local music, spoken word and human rights. (more…)
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#agnes torok#Amnesty Internatinoal#Apache Darling#Dead Man Fall#Declan Welsh#Ellen MacAskill#Finn LeMarinel#Genessee#glasgow#glasgow university#GU Amnesty International#Harry and the Hendersons#Jamensty#Laura St Jude#Sam Small#stereo#University of Glasgow
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