The Saudi Arabian sovereign wealth fund also know as the PIF has completed their takeover of English club Newcastle United from now previous owners Mike Ashley for his 80% share of Newcastle for a reported $400m.
Mike Ashley's unpopular 14 year reign at Newcastle is all but over now, It was characterized by broken promises, failure, fan frustration and relegation.
Newcastle fans should be thrilled by this sale as the Saudis are said to be interested in developing the club and possibly challenge for the premier league and Europe's biggest prize, The UEFA champions league.
The deal was brokered by Amanda stavenley but has been on and off now for about a year, This was due to piracy claims against the Saudis levied by bein sports, They were solved and hence the sale was done.
What a change this is good news for the fans
This is big news for the Premiership and yes they will challenge for top 3 within the next few seasons. Newcastle are one of my favorite teams and hope they do well. Post needs to be longer for extra curation as this is just too short. Rewards has to reflect value and need to always keep that in mind.