The Saudi sovereign wealth fund which owns Newcastle has taken majority stakes in four of the Middle Eastern country’s biggest clubs, including Cristiano Ronaldo’s team Al Nassr.
The Public Investment Fund (PIF) is taking 75 per cent stakes in Al Nassr, Asian Champions League finalists Al Hilal, Al Ahli and Al Ittihad, who are understood to be interested in signing Karim Benzema after his intention to leave Real Madrid at the end of the season was confirmed.
The PIF also own an 80 per cent stake in Newcastle following the completion of a protracted and controversial takeover in October 2021.
Sources close to the fund have told the PA news agency that the move to take controlling stakes in the four Saudi clubs does not constitute the creation of a multi-club ownership model involving Newcastle.
Each club will be managed by an independent board and have separate executive management, the sources said.
Clubs in the Saudi top flight, who have technically been owned by the country’s Ministry of Sport until now, are being privatised as part of a government initiative to help the sport further develop.
FIFA has been approached for comment on the issue.
A statement on the PIF Twitter account read: “As part of today’s announcement of the Sports Clubs Investment and Privatization Project, four Saudi clubs – Al Ittihad, Al Ahli, Al Nassr, and Al Hilal – have been transformed into companies, each of which is owned by PIF and non-profit foundations for each club.”
PIF said existing members of each club would be included in the four foundations and that the fund was working closely with the Ministry of Sport on the necessary regulatory procedures to complete the clubs’ transfers to their new structures as newly-founded companies alongside non-profit foundations.
“The transfer of the four clubs will unleash various commercial opportunities, including investment, partnership and sponsorships across numerous sports,” the PIF statement concluded.
The Saudi government said in a release from the country’s national press agency issued earlier on Monday that it hoped that as well as further bolstering participation in sport at grassroots level, the move to privatisation would raise the league’s revenues from 450million riyals (£96.7m) last year to 1.8 billion riyals (£386.7m) and increase its market value to more than 8bn riyals (£1.72bn) by 2030.
The extent to which the Saudi government controls Newcastle came back into the spotlight in February this year after the publication of court documents in the US.
The Premier League approved the PIF-led takeover of the club only after receiving “legally-binding assurances” that the Saudi state would not have control of the club.
However, documents from PIF’s legal team published in a court case related to the LIV Golf and PGA Tour dispute described PIF as “a sovereign instrumentality of the Kingdom of Saudi Arabia” and PIF governor and Newcastle chairman Yasir Al-Rumayyan as “a sitting minister of the Saudi government”.
The Premier League has declined to comment on whether it had opened an investigation following the publication of the court documents.
'I will keep fighting' - Ten Hag adamant he is the right manager for Man Utd
Erik ten Hag insists that he is the right man for the job at Manchester United despite their 4-0 thrashing at the hands of Crystal Palace on Monday.
Michael Olise netted twice against a sorry United team at Selhurst Park, with Jean-Philippe Mateta and Tyrick Mitchell also getting on the scoresheet.
It is the first time that Palace have done the double over the Red Devils in the Premier League, as United extended their winless run on the road to five games.
There has been a lot of speculation over Ten Hag’s future following a disappointing second campaign in charge, with just one year left on his contract.
Asked if he was the right manager for United, he told Sky Sports: "Absolutely. If the right players are there and available, we have a good squad, but are missing the whole backline – we had problems.
"I will keep fighting. I prepared the team in the best way I could do. It was not good enough, by far – I have to take responsibility for that. But I will find energy and prepare them for Sunday’s game.
"At the end of the day, I have to do it with the players who are available. All season, we have huge [injury] problems. Many times we have sorted it out. Today we didn’t."
United have struggled with injury problems all season, with Harry Maguire and club captain Bruno Fernandes joining the lengthy list of players missing against Palace.
Ten Hag highlighted the lack of defensive options at his disposal but did not make excuses for the poor performance, adding: "It’s clear and obvious – this is underperforming. It’s not good enough. We are very disappointed in this. Our fans were behind us all the way – we should have kept fighting like the fans did.
"There are always reasons. Everyone sees our backline, we have huge problems, but at the end of the day we have to deal with it – we should have done better than we did.
"We know [how damaging it could be], but we have nine points to play, so we have to fight for the nine points."
Man Utd thrashing a 'big statement' but Palace are not surprised, says Eze
Eberechi Eze says Crystal Palace's 4-0 thrashing of Manchester United is a "big statement" but insists there should be little surprise that it happened.
Micheal Olise scored twice as Palace ran riot against the sorry Red Devils at Selhurst Park on Monday.
Jean-Philippe Mateta and Tyrick Mitchell also got in on the act as Palace sealed their first league double over United.
Palace have now won four of their last five Premier League games, with Oliver Glasner having turned the tide in the past few weeks.
Speaking to Sky Sports, Eze said: "It says a lot, it's a big statement, but we're not surprised.
"We know what we're capable of, we know what we can do. The quality we've got in the dressing room is high – we don't see it as a surprise. We know what we came here to do today, it worked.
"You can see we’re creating chances, we're not worried about what's going on behind us. We're attacking, pressing, we're aggressive – we're going to continue to create chances for sure."
Also speaking to Sky Sports, Glasner said: "Congratulations to the team. I think in the first half, we didn't play as well as we could, but we were very efficient and scored very nice goals.
"At half-time, we made some adaptations, and the second half was much better. We created a lot of chances, scored some nice goals, and it's a great win.
"We know we have quality when we get our players in situations to score a goal.
"Good players, a good team spirit, but we must always stay humble. It's not so long ago we were struggling [in a relegation battle]. We are doing well, but we have a lot to improve."
This was Palace's biggest Premier League win since beating Leeds United 5-1 in April 2023, while it also marked their biggest on home soil in the competition since a 5-0 victory over Leicester City in April 2018.
Udinese 1-1 Napoli: Struggling Bianconeri grab last-gasp home draw
Napoli were held to a 1-1 draw at relegation-battling Udinese in Serie A on Monday after a stoppage-time goal by forward Isaac Success cancelled out a Victor Osimhen header.
Osimhen nodded home to give Napoli the lead in the 51st minute after Matteo Politano sent a lofted cross from the right into the middle of the box, and the Nigerian striker headed the ball in off the left post.
The Nigerian thought he doubled their advantage in the 80th minute, but his effort was ruled out for offside, before Success bundled in the leveller in stoppage time, netting from a Thomas Kristensen header.
Napoli moved up to eighth on 51 points from 35 games and are nine points behind both fifth-placed Atalanta and Roma, in sixth.
Data Debrief:
Osimhen is the third Napoli player to score in six matches in a row against a single team in Serie A in the three-points-for-a-win era, after Gonzalo Higuain against Lazio between 2013 and 2016 and Dries Mertens against Bologna between 2016 and 2019.
Despite fighting back to earn a point, Udinese have now failed to win three games under a new manager for the first time since August-September 2010 under Francesco Guidolin.
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