Saudi Arabia’s Public Investment Fund have not done their chances of buying Newcastle United any favours after inadvertently admitting that chairman Mohammed Bin Salman owns the consortium.
The Premier League did not approve their plan to buy Newcastle in a £300 million deal last year, insisting that Saudi Arabia was hiding behind PIF to take over the club.
The Saudis have been found guilty of broadcast piracy, while Bin Salman has been found guilty of approving the murder of exiled Saudi journalist Jamal Khashoggi in 2018.
Newcastle owner Mike Ashley is awaiting the decision of an arbitration court case that focuses on Saudi State control of PIF.
The Magpies’ chances of winning the litigation were dealt a huge blow after Sportsmail revealed that Saudi’s Crown had urged UK Prime Minister Boris Johnson to intervene in PIF’s plans to buy the club after the Premier League blocked it.
Their latest updates on social media will not help matters.
Over the past five years, we came together under the leadership of HRH Crown Prince Mohammed Bin Salman Bin Abdulaziz to meet the ambitious goals of #SaudiVision2030.
We have reached many milestones, and we look forward to many more years of success. pic.twitter.com/IbJjnhGkW5
— Public Investment Fund (@PIF_en) April 27, 2021
It led The Telegraph’s Newcastle correspondent Luke Shaw to react thus:
I mean, seriously, come on. They aren’t even pretending anymore. It’s ok, though, Ashley is launching a legal challenge and it’s not like he’s ever lost any high profile cases in the 14 years he has been #nufc owner… https://t.co/WEi3zmEhge
— Luke Edwards (@LukeEdwardsTele) April 28, 2021
Not for the first time in recent months they have boasted about his leadership and control of PIF. If you can’t see that as an issue you really haven’t been paying attention to what caused takeover to collapse right months ago and the whole basis of arbitration. This doesn’t help
— Luke Edwards (@LukeEdwardsTele) April 28, 2021
I’ve been saying it won’t happen for months. The arbitration will focus on whether PL were right to say MBS/PIF were intrinsically linked so it was a takeover by Saudi State. All evidence, in SA and here since, shows MBS controls PIF and they don’t even hide it. It’s blatant.
— Luke Edwards (@LukeEdwardsTele) April 28, 2021
A source with knowledge of the Newcastle takeover deal said they have been shocked to discover Bin Salman’s intervention with Johnson.
He was supposed to be keeping out of the deal, given the case the PIF was making that it was separate from the Saudi government.
“Our main focus is PIF’s growth. Over the next 5 years, the Fund will grow by over 200%, and in 2030, it will be valued at SAR 10 trillion.” #SaudiVision2030 pic.twitter.com/oyFxnwyLVv
— Public Investment Fund (@PIF_en) April 28, 2021
PIF continue to undo any attempts they have made in the past to establish themselves as a separate entity from the Crown Prince and the Saudi State, and it will be interesting to see how things turn out in court.
In other news, Rangers are reportedly keeping tabs on Newcastle star.
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