• Loading stock data...
Saturday, June 22, 2024

Newcastle Owners Invest $80.6M in Premier League Club

  • Since last year, the ownership group has invested $510.5 million in Newcastle.
  • The consortium owns 80% of the club.
Newcastle United has added a new front-of-shirt sponsor.
NUFC

Newcastle United will receive an injection of $80.6 million after being sold late last year. 

In October 2021, a consortium led by the Public Investment Fund — Saudi Arabia’s sovereign wealth fund — purchased Newcastle for $409 million in an arduous and controversial sale. 

Before the deal was completed, activists had called on the Premier League to consider Saudi Arabia’s alleged human rights violations, arguing that a deal would be sports-washing on the Saudi Kingdom’s behalf. 

As a result, the consortium’s purchase was made separately from the Kingdom.

  • Since last year, the ownership group has invested $510.5 million in Newcastle.
  • The consortium owns 80% of the club.
  • Property developers Simon and David Reuben own 10%.
  • The remaining 10% is owned by PCP Capital Partners

Newcastle is in the midst of a promising Premier League season, currently sitting third in the table behind Arsenal and Manchester City.

Intriguing Offer 

Before the PIF purchased Newcastle, Manchester United owners Kevin and Edward Glazer reportedly offered the PIF a 30% stake in the fellow Premier League club worth $787.7 million.

In 2019, PIF chairman Mohammed bin Salman expressed interest in Man U but denied any deal to be imminent. The PIF would purchase Newcastle for the promise of majority ownership.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

TV Companies Losing Subscribers As Sports Rights Deals Continue to Rise

Four major TV provider companies reported huge losses.

Border War Intensifies: Kansas Makes Swift Move to Lure Chiefs and Royals

A bipartisan supermajority of Kansas legislators approve bonding for new stadiums for the Chiefs and Royals.

U.S. Hosts Copa América: A Milestone in Soccer’s Oldest Tournament

The U.S. hosting of the tournament follows a larger partnership between two major soccer federations.

Spring Football’s Future: UFL’s Mixed Results, Ambitious Changes Ahead

“You really need deep pockets,” former XFL commissioner Oliver Luck tells ‘Front Office Sports.’
podcast thumbnail mobile
Front Office Sports Today

How Women’s Sports Media is Charting Its Own Path

0:00

Featured Today

Jan 3, 2022; Pittsburgh, Pennsylvania, USA; General view of the NFL shield logo signage before the Pittsburgh Steelers host the Cleveland Browns at Heinz Field.

Odds Stacked Against NFL in Multibillion-Dollar Sunday Ticket Trial

Why the class action trial does not look promising for the league.
Jan 7, 2024; San Francisco, California, USA; Toronto Raptors forward Jontay Porter (11) takes a three-point shot against the Golden State Warriors during the second half at Chase Center.
June 9, 2024

‘Bound to Happen’: The Age of the Sports Betting Scandal Has Arrived

A banishment, betting scheme, and guilty plea all in one scandal-filled span.
June 8, 2024

‘Experimental in Nature’: The Rapid, Confounding Rise of Streaming Bundles

Here’s why confusion continues to outweigh solutions in the streaming package boom.
June 2, 2024

The Nostalgia Market: Michael Jordan’s Memorabilia Remains Coveted, With Caveats

Due to scarcity, and sometimes, items’ undisclosed whereabouts, this world has limitations.

U.S. Cricket Stuns Goliath Behind Its Star, an Ivy League Software Engineer

Team USA upset Pakistan, one of cricket’s superpowers, in overtime.
May 6, 2024; Paris, FRANCE; A general view of construction of the Eiffel Tower Stadium, the venue for beach volleyball, in preparation for the Paris 2024 Summer Olympic Games.
June 4, 2024

Microsoft Warns of Russian Olympic Disinformation Campaign

Russian actors used an AI-generated Tom Cruise in a fake propaganda film.
Jun 16, 2022; New York, New York, USA; A detail view of The FIFA World Cup Trophy sits on a stand outside of 30 Rockefeller Plaza.
June 5, 2024

Saudi Arabia, Likely World Cup Host, Slammed With Workers’ Rights Abuse Claims

The nation needs to build at least 10 stadiums to host.
Sponsored

How HOKA is Reimagining the NIL Relationship

HOKA, the renowned athletic footwear and apparel brand, is betting on a new reality with NIL.
Aug 18, 2016; Rio de Janeiro, Brazil; Julio Cesar La Cruz (CUB, red) faces Adilbek Niyazymbetov (KAZ, blue) during boxing final in the Rio 2016 Summer Olympic Games at Riocentro - Pavilion
May 29, 2024

Discredited Boxing Organization Vows to Award Prize Money to Paris Olympians

The IBA, unrecognized by the IOC, vowed $50,000 to boxing gold medalists.
May 28, 2024

Here’s Why Cricket Is Having a Major American Moment

The U.S.’s Major League Cricket just received a key sanction—and credibility.
March 27, 2024

Ukraine’s Improbable Soccer Run Continues With Euros Qualification

The country reaches its first major soccer tournament since Russia’s invasion began.
March 6, 2024

Super Bowl LVIII Scores Big With International Viewers

The NFL gets a 10% global boost compared to last year.