DUBAI: The British media and football fans have been sharing celebratory online videos and tweets over the takeover of English Premier League club Newcastle United by a consortium led by Saudi Arabia’s sovereign wealth fund.
Following months of negotiations, the Saudi Public Investment Fund, along with financial entrepreneur Amanda Staveley and billionaire investors the Reuben brothers, sealed a £300 million ($410 million) deal with Mike Ashley, the club’s owner.
The purchase has enabled Newcastle to join the ranks of Europe’s super-clubs, including Manchester City and Paris Saint-Germain, which have the backing of wealthy and committed owners.
Fans were on Friday celebrating the buyout news online and offline.