Newcastle owner controls Ronaldo's team
On June 5, PIF - the Fund that currently owns 80% of the shares of English Premier League club Newcastle United - announced that it would take control of the Al Ittihad, Al Ahli, Al Nassr and Al-Hilal clubs.
This acquisition campaign is part of Saudi Arabia's "Project to privatize and invest in sports clubs". Accordingly, PIF will hold 75% of the shares of each of the four teams mentioned above, with the remaining 25% transferred to non-profit organizations from the Saudi Ministry of Sports.
Previously, Saudi Arabian clubs were all "owned but not controlled" by the Ministry of Sports.
Ownership of multiple clubs participating in the same tournament is not allowed in major leagues around the world, including the Premier League or La Liga. UEFA once required the owners of RB Leipzig and RB Salzburg to demonstrate a marked difference in their organizational structure to allow both clubs to participate in the European Cup.
But football in Saudi Arabia has no such restriction, and as a result, PIF becomes a major shareholder of four Saudi Pro League clubs at the same time. In a statement on Twitter, PIF said it will work with the Saudi Ministry of Sports to work closely on all necessary legal proceedings.
Among the clubs taken over by PIF, Al Nassr recruited Ronaldo with an income of $ 200 million a year, including $ 75 million in playing fees, the rest came from image rights, commercial contracts and roles. your ambassador.
Al-Hilal has submitted a salary proposal of $ 440 million per year with the ambition to recruit Lionel Messi in the summer of 2023. Al Ittihad is about to complete the signing of Karim Benzema on a free transfer. Meanwhile, Al-Ahli has just won promotion to the Saudi Pro League.
According to British newspaper Sunsport, if Ronaldo, Messi and Benzema go to Saudi Arabia, Newcastle can sign these stars on loan. There is no limit to the number of players an English Premier League club can loan from abroad, meaning that in theory, the "Shoots" could sign all three.
However, such deals may face strong opposition from Premier League clubs. The organizers also carefully consider the matter if Newcastle recruits a star on loan without paying "fair market value".
In October 2021, PIF, along with two other investors, bought Newcastle for $415 million. PIF is one of the largest investment funds in the world, with an estimated total asset value of at least 500 billion USD in 2021, and is expected to reach more than 1 trillion USD in 2025. They hold 80% of Newcastle shares. The chairman of the PIF is the Crown Prince of Saudi Arabia, Mohammad Bin Salman.
Since taking power at St James' Park, PIF has spent a lot of money to recruit Newcastle coach Eddie Howe and many stars like Alexander Isak, Nick Pope or Anthony Gordon. Thanks to that, "Chicken" spent a successful season when he reached the final of the Confederation Cup and finished fourth in the Premier League to return to the Champions League after 20 years.
