Commentary Football fans palpably celebrated when Newcastle United announced that Saudia Arabia’s Public Investment Fund (PIF) had purchased the club for a staggering £305 million ($419.7 million). The Premier League had approved the deal after receiving legally binding guarantees that the new Saudi Arabian owner would not control the club. Newcastle United is a club with a great family tradition, which led to its relegations to the Championship League in the past. The injection of money will now enable the club to buy excellent players who may successfully contribute to the football exploits of the Premier League club. There is even an expectation that, in the coming years, the club will be a regular participant in the lucrative European Champions League. Jurgen Klopp, the successful coach of Liverpool F. C., believes Newcastle United will be the next superpower in the Premier League after its takeover. However, the story of Newcastle …
Distortions in the World Game: A Story of Dubious Investments
October 17, 2021
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