Newcastle United Become The Richest Club In The World After Saudi Led Took Over
The Saudi-led takeover of Newcastle United F.C. has officially been completed, the Premier League have confirmed.
The deal brings Mike Ashley’s 14-year ownership of the club to an end, and also makes Newcastle United – who are currently 19th in the Premier League – the richest club in the world.
Saudi Arabia’s Public Investment Fund (PIF) – who have assets worth a whopping £320 billion – now have a 80% stake in the club, with manda Staveley and the Reuben brothers evenly splitting the remaining 20 per cent.
The new owners of Newcastle have released a statement following confirmation that the takeover has been completed.