Premier League team Newcastle United were acquired by Saudi Arabia's Public Investment Fund (PIF) in a deal worth over 300 million pounds ($408.4 million), becoming the third major European club funded by Middle East capital in recent years.
The rise of Manchester City and Paris Saint-Germain already showed the world the magic of unlimited funding. Now that Newcastle join the game and have someone with even deeper pockets behind them, what impact will the takeover have on Premier League and European football?
Directors Amanda Staveley (L) and Mehrdad Ghodoussi of Newcastle United pose for photographs at St. James Park after meeting with staff in Newcastle, England, October 8, 2021. /CFP
Fans of Newcastle United celebrate for the takeover of the team by Saudi Arabia's Public Investment Fund at St. James's Park, October 7, 2021. /CFP
Host: Li Xiang
Guest: Josh McNally
Cover designer: Feng Yuan
Chief editor: Chen Ran
Supervisor: Zhang Shilei