Premier League urged to review Saudi-Newcastle deal
The Premier League has been urged to review a legally binding promise made by the owners of English soccer club Newcastle in 2021 that Saudi Arabia’s sovereign wealth fund was separate from the country's government
GENEVA (AP) — The Premier League was urged Thursday to review a legally binding promise made by the owners of English soccer club Newcastle in 2021 that Saudi Arabia’s sovereign wealth fund was separate from the country's government.
An American court document filed by lawyers for Saudi-backed LIV Golf in a case against the PGA Tour revealed this week claimed the Public Investment Fund should be regarded as “a foreign state.”
The document appeared to contradict a legal assurance accepted by the Premier League when a protracted takeover of Newcastle was completed in October 2021 with PIF having an 80% ownership stake.
At that time, Premier League chief executive Richard Masters told the BBC in an interview the Saudi state would not control Newcastle and, if this was proved untrue, “we can remove the consortium as owners.”
