Takeover of Newcastle United: The Saudis have no more desire

At the end had the investors not in the mood anymore. In April it became known that a consortium led by Saudi Arabia's sovereign wealth Fund PIF stand before t

Takeover of Newcastle United: The Saudis have no more desire

At the end had the investors not in the mood anymore. In April it became known that a consortium led by Saudi Arabia's sovereign wealth Fund PIF stand before the Takeover of Premier League club Newcastle United. It was about 300 million pounds, only the consent of the League was still missing, which makes such acquisitions Background Checks on the future owners. Pure Routine, it was said at the time, the business will soon be completed. In the past week, investors have pulled out after months of waiting back.

Apparently the procedure took too long. The businesswoman Amanda Staveley – the face of the consortium in the British media – said: "It's terrible." The blame you gave up the Premier League and rival clubs such as Liverpool and Tottenham, the mood against the Takeover would have done. The Failure was a loss for the club, Region and Fans.

Staveleys company PCP Capital Partners and real estate investors Reuben Brothers have held in the case of a Success, each of ten per cent in Newcastle; 80 percent would have gone to the state Fund, behind the crown Prince Muhammad bin Salman is. Because of the role of activists from Amnesty International and Human Rights Watch had warned of the from their point of view, dirty business. Saudi Arabia was pursuing the strategy, through the financing and staging of sports events by the miserable human rights situation in the country to distract keyword: "Sport wash". The case triggered a public discussion about whether it is ethically defensible, with the prospect of sporting success, the money of such a regime to adopt. This Form of attention may not have liked bin Salman.

resistance against the Takeover

prominent opponent of the Takeover Hatice Cengiz, the fiancée of the regime-critical journalist Jamal Khashoggi, of 2018 in the Saudi Consulate in Istanbul was murdered. Western intelligence services accuse bin Salman, to have the crimes in the order given. The crown Prince denies this. "Let this defeat be a strong message for Saudi Arabia's leadership that you can't use your money to its people to cover violations of the law to Verde or to protect those who are for the murder of Jamal responsible," wrote Cengiz now.

Perhaps the group of investors is entered into voluntarily by your offer back, to avoid the risk that they will be detained by the Premier League to the Acquisition. It is not even clear to what the outcome of the Background Checks, the League would have. According to the BBC, the trials dragged on, among other things, that is why for so long, because it is not clear who would be moved after the Takeover of the club Board and how closely the Links between the consortium and the government of Saudi Arabia are.

pirate radio "BeoutQ"

The presumption holds that it was first and foremost to the human rights situation in Saudi Arabia, but of the illegal Transfer of Premier League football in the country by the pirate radio station "BeoutQ". The broadcasting rights for the Region, the Qatar company "BeIN Sports". According to a report by the world trade organization WTO BeoutQ is "operated" by "individuals or companies in the criminal jurisdiction of the Saudi-subject to of Arabia". In other words, The government has not complied with its duty to protect intellectual property sufficiently. Saudi Arabia has allied itself in 2017, along with other Gulf States against Qatar.

Updated Date: 03 August 2020, 09:20

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