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Saudi Arabia’s public investment fund buys Newcastle United

The Premier League approved this Thursday the purchase of the club Newcastle by the PIF, Saudi Arabia's public investment fund, which becomes the main shareholder of the English club.

The news has delighted more than one Newcastle fan, as one could tell by the scenes of jubilation in front of the club’s headquarters on Thursday, when the Saudi consortium was announced. And for good reason, this purchase, estimated at more than 350 million euros, offers a huge hope of progress for the club, which finds itself second to last in the English championship, deprived of the means that would allow it to progress

 

 

“The end of one era and the start of another.”

 

“Amazing news!! So happy for all you fans who’ve waited so long for this day!! What an exciting journey ahead we have
“The end of one era and the start of another. (….) Exciting times ahead, let’s get us back to where this club should be!” tweeted striker Callum Wilson and team captain Jamaal Lascelles. 

 

 

This enthusiasm is shared by many Newcastle supporters, as evidenced by the public statement from the Newcastle United Supporters Trust, the club’s largest fan organization: “Today, for the first time in many years we believe our desire for an ambitious Newcastle United that strives to be the best it can be a reality under your ownership. (…) It is the first real hope for many years.” they stated in a letter to Yasir Al-Rumayyan, Governor of the Public Investment Fund.

 

To Magpies supporters and all other football fans, see you on October 17th for the Tottenham-Newcastle match!