Saudi-Led Consortium Acquires Newcastle United F.C.

Newcastle United, which competes in the English Premier League, has now become one of the wealthiest football clubs in the world following a takeover lead by Saudia Arabia's Public Investment Fund (PIF).Since last year, Newcastle United has been of interest to a consortium consisting of PIF, PCP Capital Partners and RB Sports & Media. Due to concerns over Saudi's human rights record, worries that the club will essentially be state-owned and broadcasting disputes with Qatari conglomerate beIN Spo...