Saudi Arabia PIF believe they can grow Newcastle United value to at least £2.5billion nufc
It is now coming up to the first anniversary of the Saudi Arabia PIF led takeover of Newcastle United.
Thursday 7 October 2021 was the day when at last Newcastle fans could celebrate the departure of Mike Ashley, after almost a decade and a half of zero ambition and treating the supporters with sheer contempt. The Saudi Arabia PIF taking an 80% stake in the new ownership of Newcastle United, with the Reuben family 10%, Amanda Staveley and her husband the remaining 10%.Ahead of Friday’s one year anniversary, he has been reflecting on the Saudi Arabia PIF investment in the football club.“We bought the whole team for £350m, instead of only having 30 per cent in another team for £700m.“So, my potential now is to go from £350m to at least $3.5bn .
“In the UK there was a team that approached us on the basis that we take 30 per cent of the ownership and we don’t interfere at all in terms of managing the club, for £700m., who offered us 100 per cent of the ownership, but Amanda Staveley and her husband who got us the opportunity told us, ‘We like it so much, we would like to be with you’….and that was perfect.
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