October 22 – The separation between nation states and Premier League clubs is becoming increasing blurred after it has been revealed that the former Newcastle United minority co-owner, Amanda Staveley, suggested the buyout of the club hinged on the approval of Saudi Arabia’s de facto leader Crown Prince, Mohammed bin Salman.
On October 7, 2021, the Magpies were taken over by the Saudi-led consortium, including the Public Investment Fund (PIF) led by the Crown Prince. At the time of the sale, there was much hand-wringing concerning Saudi Arabia’s human rights.
In leaked WhatsApp messages, obtained by The Telegraph newspaper, it has been alluded that the UK government was eager to see the takeover succeed, however, for the purchase to officially meet Premier League approval ‘legally binding assurances’ were demanded that the Saudi state would not control Newcastle.
With the sensational reveal of the WhatsApp messages, it is hard to see how MBS as PIF chairman, could not be involved in any major decisions involving the club, especially in relation to the multi-million pounds paid in transfer fees.
While foreign states are not banned, the human rights issue did create a climate of issues surrounding Saudi ownership. Staveley, was the key cog in making the deal with PIF and the highly unpopular previous owner of the club, Mike Ashley. Staveley initially had a 10% stake in the club but sold that interest last July when she stepped down from the board.
With the Premier League under increasing pressure for more transparency, clubs will meet this week to discuss changes to financial regulations in light of Manchester City’s legal challenges to the system, however, they’ll be no review of Newcastle’s takeover.
PIF currently has an 85% controlling interest in Newcastle with the outstanding balance of 15% held by the British billionaire property developers Reuben Brothers.
Contact the writer of this story, Nick Webster, at moc.l1735222128labto1735222128ofdlr1735222128owedi1735222128sni@o1735222128fni1735222128