The flow of Arab money into football continues

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As a football lover, everything about football gives me joy. I love playing it and also watching people that plays. I don't miss watching weekend club football games and my favorite league is English premier league. I can't give a concrete reason why I love the English premier league but that's the league I enjoy most and I can sit down and watch any premier league game irrespective of the clubs involve.

Change they say is constant and things keep changing generally including in the sport Arena which football is part of. Aside football been a sport, many has realized that there is money in football and also among sports loved my many worldwide.

The current trend in the football world is the takeover of an English Premier League club, Newcastle United by Saudi Arabia Public Investment Fund. The takeover was officially announced yesterday and it trended in most news.

BRIEF HISTORY OF NEWCASTLE UNITED
Newcastle United was founded in 1892 when Newcastle East end and Newcastle West end merged together to form one team. St James Park is the name of their stadium with 52305 sit capacity where the home games take place and they are popularly known as the Magpies or the Toon. Majority stake of the club was bought in 2007 by a business man Mike Ashley making him the Chairman of the Club. Mike Ashley attempted to sell the Club three times between 2007 and 2020 but didn't succeed.

FLOW OF ARAB MONEY INTO FOOTBALL.
There has been continues investment in football from Arab billionaires with the recent one, the takeover of Newcastle United by Consortium led by Saudi Arabia Public Investment Fund, PCP Capital Partners and RB Sports and Media. This is not the first time that Saudi Arabia Public Investment Fund attempted to takeover the English Club. In April 2020, they attempted to acquire the Club but was resisted by the Premier League and some MPs citing the Saudi Arabia human rights records and sport piracy as reason for the resistance. Some MPs believed is an insult to allow such country with history of human right abuses to invest in their country.
On July 30, 2020 The Saudi Arabia Public Investment Fund announced their withdrawal from the deal after much pressure but they said that the prolonged process was major factor in them pulling out of the deal.

Like a thief in the night, on October 7, 2021 Premier League announced Saudi-led takeover of Newcastle United has been completed. The Owners of Newcastle United are Public Investment Fund (80%), PCP Capital Partners (10%) and RB Sports and Media (10%). Judging from other Arab billionaires that owns a club, they spend money to buy quality players in order to bring their club to compete globally. For example since 2008 that Sheikh Mansour took over Manchester City, He have pumped in more money to the club changing the narrative of the club and making it one best Club in the world currently.

With Yassir Al-Rumayyan as the Chairman of Saudi-led Owner of Newcastle United, many football lovers believe he will do the same like Sheikh Mansour did to Manchester City.