• Loading stock data...
Sunday, July 6, 2025

Saudi-Led Consortium Buys Newcastle for $409M

Newcastle United/Design: Alex Brooks

England’s Newcastle United soccer team has been purchased for $409 million by a consortium led by Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, following a year-and-a-half of disputes regarding the Saudi government’s involvement. 

Mohammed bin Salman, the Crown Prince of Saudi Arabia, heads the fund, which is set to become the world’s largest by 2030, managing $2 trillion in financial assets.

On Thursday, the Premier League received legally binding assurances from the Saudi Kingdom guaranteeing the following:

  • It will not control the club.
  • The consortium’s purchase will be separate from the Kingdom.

Before the deal was approved, activists had called on the Premier League to consider Saudi Arabia’s alleged human rights abuses, arguing that a club purchase would be “sports washing” on the Kingdom’s behalf.

Mike Ashley, who owned the team for 14 years, will no longer be involved with the 128-year-old organization.

The Saudi consortium will own 80% of the team. Property developers Simon and David Reuben will own 10%. The remaining 10% will go to PCP Capital Partners.

Qatari media network BeIN Sport, which owns Premier League media rights in the Middle Eastern region, had been banned from broadcasting in Saudi Arabia due to a dispute over the country’s involvement with pirated content. BeIN is now clear to air matches in the country following the lift of the ban this week.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Liverpool to Pay Diogo Jota’s $20M Contract to His Widow

Jota had two years remaining on his contract.

American Celebs Want to Be Sports Owners. Soccer Is Where They Start

As U.S. team prices climb, investors set their sights abroad.

Baseball’s Celebrity Row: Behind MLB’s First-Pitch Ritual

Often planned, sometimes spontaneous, the ritual throw is baseball’s celebrity row.

3,000 Hot Dogs, $20K in Prizes: Behind the Nathan’s Eating Contest

Nathan’s serves up thousands of hot dogs and $20,000 in prize money.

Featured Today

Geoffrey Esper Can’t Catch a Break at Nathan’s Hot Dog Eating Contest

“Hot dogs is not one of my favorite competitions of the year.”
June 29, 2025

The Battle Over Wimbledon’s Ambitious Expansion Plan

A classic NIMBY standoff on one of the most hallowed grounds in sports.
Seattle Rough & Tumble
June 28, 2025

Women’s Sports Bars Are on the Rise. Survival Isn’t Guaranteed

Some women’s sports bars are cashing in. Others are clawing for funding.
June 27, 2025

Shitposters Have Taken the Reins of Pro Sports’ Official Voices

Meet the social media pros turning sports teams into internet trolls.
Apr 26, 2025; San Francisco, California, USA; Houston Rockets guard Fred VanVleet (5) before game three of first round for the 2024 NBA Playoffs against the Golden State Warriors at Chase Center.

Rockets Get $20 Million in Wiggle Room From New VanVleet Deal

VanVleet first signed with the Rockets in 2023.
April 20, 2025

Max Verstappen Linked to $300M Aston Martin Deal Ahead of Miami GP

Aston Martin is currently seventh in the constructors championship.
June 24, 2025

Timberwolves’ 4-Year Ownership Saga Ends As A-Rod, Lore Take Over

The unanimous approval brought a clean end to a long-disputed transaction.
Sponsored

Hottest Matchups Following NFL Schedule Release

The NFL released the 2025 regular-season schedule, and anticipation is already building in the ticket marketplace with four months to go.
March 27, 2025

Peyton Manning’s Omaha Productions Gets PE Boost

The Hall of Famer’s company gains another prominent backer.
March 20, 2025

High School Sports Power Signs Eight-Figure Rights Deal in First

The deal pays roughly $1 million annually, FOS has learned.
March 20, 2025

Maxx Crosby’s Agent: Edge Rushers Set to Dominate NFL’s Non-QB Market

Maxx Crosby just signed a three-year, $106.5 million extension.
March 4, 2025

Eagles Make Saquon Barkley NFL’s Highest-Paid Running Back Ever

Barkley is coming off a historic 2024 season with the Eagles.