Home News saudis pif have just shot themselves in the foot as bin salman admission could all but end newcastle united takeover hopes

Saudi’s PIF have just shot themselves in the foot as Bin Salman admission could all but end Newcastle United takeover hopes

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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.

It led The Telegraph’s Newcastle correspondent Luke Shaw to react thus:

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.

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.