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Sunday, April 21, 2024
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Saudi Arabia’s PIF Interested In Buying Another Soccer Team

  • Pacific Media Group is reportedly making Belgian soccer club KV Oostende available for $12 million.
  • Saudi Arabia's Public Investment Fund also owns LIV Gold and Premier League club Newscastle United.
Newcastle United has added a new front-of-shirt sponsor.
NUFC

Saudi Arabia’s Public Investment Fund is looking to add to its expansive portfolio of sports properties. 

The PIF is reportedly in talks to buy Belgian soccer club KV Oostende. The club, which plays in Belgium’s second-division soccer league, could be bought for around $12 million. 

The Saudi fund — which owns LIV Golf and paid roughly $400 million in 2021 for an 80% stake in the Premier League club Newcastle United — is also “believed to be talking” to several other European soccer clubs potentially available for purchase. 

The Belgian club’s current owner is Pacific Media Group, a U.S.-based investment firm that has stakes in several other soccer teams across Europe. 

The PIF manages an estimated $620 billion in assets globally, including investments in companies such as Live Nation, Disney, Uber, and Meta, as well as video game giants Nintendo, Electronic Arts, Take-Two Interactive, and Activision Blizzard. 

The PGA Tour is in an ongoing antitrust legal case with the PIF’s LIV Golf.

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