The city of Newcastle just announced the welcoming of a new investment fund making KSA the new owner of the legendary English club. Incredibly popular all throughout the 1990s and early 2000s, the Magpies had met incredible success before struggling to compete with the arrival of super-clubs and their super-owners with super amounts of money to splash out on their own teams. But it seems as if things are about to take a drastic turn.
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Saudi Arabia’s Public Investment Fund (PIF) have put their hands on over 80 percent of the club’s shares and have officially bought out previous majority stake-holder Mike Ashley. Now sitting at the helm of the former top-flight club, the sovereign fund is appearing to be just as ambitious as their regional competitors who have taken their respective clubs, namely Manchester City, owned by Emirati Sheikh Mansour, or PSG, owned by Nasser Al Khelaifi from Qatar, to the highest stages of European football.
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Now positioned as one of the world’s richest clubs, the black and white striped team won’t have to pale in comparison to its peers as the direction Newcastle will soon be taking will surely help the team regain their past glory. Who would you draft if you were the new owner?
