The deal is likely to meet strong public opposition in many quarters, however, given Saudi Arabia's human rights record and the murder of journalist Jamal Khashoggi in 2018. All parties are pleased to have concluded this process which gives certainty and clarity to Newcastle United Football Club and their fans." "The Premier League has now received legally binding assurances that the Kingdom of Saudi Arabia will not control Newcastle United Football Club. All parties have agreed the settlement is necessary to end the long uncertainty for fans over the club's ownership. "The legal disputes concerned which entities would own and/or have the ability to control the club following the takeover. "Following the completion of the Premier League's Owners' and Directors' Test, the club has been sold to the consortium with immediate effect. "The Premier League, Newcastle United Football Club and St James Holdings Limited have today settled the dispute over the takeover of the club by the consortium of PIF, PCP Capital Partners and RB Sports & Media," a Premier League statement said. The Premier League declined to comment to ESPN when contacted to explain how they had done this. Officially, the Premier League has privately indicated they are now satisfied the consortium has provided proof the Saudi state would not have control of Newcastle. However, PIF, the world's largest sovereign wealth fund (state-owned investment), failed to pass the Premier League's owners' and directors' test at the time, creating an impasse which has been resolved following intensive talks in recent weeks. The takeover ends an 18-month deadlock after an agreement was originally reached in April 2020. In seven games this Premier League season, Newcastle are yet to win a game and are 19th in the table, above only Norwich City. Newcastle have not been English champions since 1927 and have not won any domestic silverware since 1955, and fans believe this takeover will move them out of mediocrity.
A Saudi Arabia-led takeover of Newcastle United has been completed with the Public Investment Fund (PIF) buying the Premier League club in a deal worth just over £300 million.