Saudi Stance on Selling Newcastle to Fund €10bn Barcelona Takeover Revealed
Saudi Arabia's Public Investment Fund (PIF) have made their stance clear on potentially selling Newcastle United to fund a stunning takeover of Barcelona.
El Chiringuito's Francois Gallardo reported on Friday evening that Saudi Crown Prince Mohammed Bin Salman is considering a €10 billion takeover bid for Barcelona.
The Spanish giants have had numerous financial issues over recent years, and have racked up huge debts of around €2 billion.
Any full takeover attempt would almost certainly have no chance of succeeding as Barcelona are operated via a socio-ownership model - where it is collectively owned by its members.
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Unless the rules are changed, therefore, private or foreign investors are legally unable to complete a takeover of the club.
There are still ways and means to invest in the Spanish club, however, and the PIF have already invested significant sums across various sports in recent years.
It is unclear as to whether, if any investment opportunity proceeds, Bin Salman would personally put money into the club, or whether PIF - of which Bin Salman is chairman - would provide the funds.
The latter would no doubt raise the question over whether PIF would sell any of its 85 per cent share in Newcastle United in order to invest in Barca.
But it appears that there is little chance of that happening either.
It was claimed by journalist Ben Jacobs in December 2022 that there was 'no possibility' of PIF selling any of its shares in Newcastle.
The following year, the now former chief executive Amanda Staveley, who owned six per cent of Newcastle alongside husband Mehrdad Ghoudoussi before leaving the club last year, 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 Ghoudoussi] are also partners with PIF."
She added: "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 £350 million?"
In September, Newcastle appointed David Hopkinson as their new CEO, with the 54-year-old telling BBC Sport earlier this month that he holds daily conversations with the PIF ownership.
"This is a major, major global player," Hopkinson said of PIF.
"But I truly believe in my heart of hearts that we [Newcastle] are their favourite investment. We take up so much of their shared mind and heart, way more than would be warranted given the size of their investment."
Topics: Saudi Arabia, Newcastle United, Football, Premier League, FC Barcelona
Ryan Smart