Sports

Newcastle United Fans Are ECSTATIC As Saudi-Led Consortium Takes Over

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After much speculation, the deal is finally done and dusted.

Saudi Arabia’s sovereign wealth fund the PIF-led consortium has finally sealed the deal to take over the English football club, Newcastle United, in a $410 million deal. This has marked the end of Mike Ashley’s 14-year ownership of the club.

Newcastle United has changed its bio across its social media accounts. The new bio reads “A new era begins…”.

With the Saudi fund now being involved many Newcastle supporters are seeing this as a sign that could change the club’s fortunes and get the club to the league of Europe’s “super clubs”.

A survey of the club’s supporters on Tuesday showed that 93 percent of its members were in favour of the takeover.


The deal is such that the PIF will own 80% of the club, with 10% going to the property developers Simon and David Reuben and the remaining 10% going to Staveley’s PCP Capital Partners.

The fans were ecstatic at the announcement with many lining up outside Newcastle United’s home ground.

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