Saudi Stance on Selling Newcastle to Buy Man Utd Amid Takeover Rumours

Saudi Arabia's Public Investment Fund (PIF) have made their stance clear on potentially selling Newcastle to fund a purchase of Manchester United.

PIF, led by its governor Yasir Al-Rumayyan, took over Newcastle in October 2021, acquiring an 80 per cent majority stake in the club.

United, meanwhile, were placed on the market in October 2022 by the Glazer family, who were considering 'all strategic alternatives for the future of the club'.

Qatari businessman Sheikh Jassim expressed interest in purchasing the club outright, but the Glazers eventually reached an agreement to sell 25 per cent of their shares to Sir Jim Ratcliffe and INEOS.

One of the key clauses included in the deal, which was finalised in December 2023, was a 'drag-along' agreement that could force Ratcliffe to sell his shares after 18 months.

For that to happen, the Glazers would need to offer the British billionaire a cash sum of £26 per share - he owns around 50 million shares at present - if they wanted to sell the club to another party.

On Wednesday evening, Saudi boxing chief Turki Alalshikh sensationally claimed on Twitter that United are 'now at an advanced stage of completing a deal to sell to a new investor'.

Turki Alalshikh's comments on Man Utd (Image: Twitter)

'Multiple sources' close to United told BBC Sport that Alalshikh's comments are not true - but it prompted confusion among fans about why such a claim was made in the first place.

The Athletic reported last week that the Old Trafford clubs are in talks over playing a mid-season friendly in Saudi Arabia, during Riyadh Season.

The report did not make reference to any involvement of Alalshikh in those talks, though his role as Saudi's Global Entertainment Authority does stretch beyond boxing and he has recently brokered a deal with WWE for the gulf nation to host WrestleMania.

If genuine interest in a United takeover did emerge from Saudi Arabia, there would be plenty of hurdles to jump over.

Multi-club ownership by the same entity is banned in English football, with BBC Sport claiming that the chances of Saudi being able to pass the Premier League's Owners and Directors' Test 'seem(s) unlikely' even if individuals in charge of Newcastle and United were different.

But regardless, there appears to be little appetite from the Saudis to 'ditch' Newcastle.

In December 2022, journalist Ben Jacobs claimed that there was 'no possibility' of that happening, with PIF fully committed to Newcastle.

Al-Rumayyan rarely speaks publicly about the north east club but, in March 2023, former Newcastle chief executive Amanda Staveley - who was part of the consortium led by PIF that took over the Magpies - told the Financial Times Football Summit (via Sky Sports): "We were very clear that we wanted a club with a passionate fanbase. We got that.

"We also wanted a club we could buy affordably because we [Staveley and husband Mehrdad Ghoudoussi] are also partners with PIF.

"We didn't go for the wonderful Tottenham and Chelsea and Liverpool. I'm a massive Liverpool fan and we tried to buy them, but we walked into a Newcastle game and said, 'Why spend X billion when you can spend £350m?'

"No, I don't think so [on if PIF could move for Liverpool or United]. I can't speak for PIF, but I really can't see that happening."