Newcastle’s owners had other offers
The Public Investment Fund (PIF) of Saudi Arabia were offered the chance to buy a 30 per cent stake in another Premier League club – believed to be Manchester United – before completing a takeover of Newcastle United a year ago.
In an interview given in Saudi Arabia, PIF governor and Newcastle chairman, Yasir Al-Rumayyan, has explained how the fund had long been in the market for a football team, having considered numerous clubs across Europe before tying up a deal with Mike Ashley.
The decision to turn down the 30 per cent stake in another Premier League club was made by the fact that it would have cost £700m (jeez, they’re not made of money!) and, crucially, wouldn’t have given them any control over the management of the club.
It was reported in early 2019 that Crown Prince Mohamed Bin Salman, chairman of the PIF, was weighing up a takeover attempt for Manchester United which never materialised.
A £305m takeover of Newcastle was approved a year ago.
“Football, of course, is one of the most important sports there is,” Al-Rumayyan is quoted as saying (via The Daily Mail).
“It’s the No 1 sport in the world. And why the Premier League? Because it’s the best league in the world. No other league competes with it.
“There are 20 teams, three are relegated and three are promoted. The advantage of the Premier League is that any of the 20 teams can beat the best team in the league.
“When we looked at it, we looked at it from a financial perspective. By the way, it wasn’t the first offer we got regarding a football team. We looked in Italy, France and the UK as well.
“For example, in the UK there was a team that approached us on the basis that we take 30 per cent of the ownership, and we don’t interfere at all in terms of managing the club, for £700m.”
The Glazer family have been hugely unpopular owners since taking over at Old Trafford in 2005. Since then, United’s dominance of English football has faded, with cross-town rivals Manchester City, funded by Abu Dhabi riches, winning five league titles of their own.
The sense that the Glazers may be open to selling the club has again made headlines, with British billionaire Sir Jim Ratcliffe said to be interested in making an offer for his boyhood club.
Related links:
- Gary Neville tells Glazers it would be ‘unacceptable’ to part sell Man United
- Mainz fans call for club to cancel friendly with Newcastle over Saudi ownership
- Amnesty say new ‘Saudi-themed’ Newcastle shirt is PR for Mohammed bin Salman
