In a move welcomed by some fans, Private Investment Fund (PIF) and PCP Capital Partners have finally confirmed 100% ownership of Newcastle United. Saudi Arabia’s Public Investment Fund will have a majority 80% stake in Newcastle.
Newcastle United background
Newcastle United is a well know football club from England. They currently play in the first division league of England “Premier League” but hovers around the relegation zone. The club has more than 125 years of history. Retail business tycoon Mike Ashely bought the club in 2007 for around $155 (£134 million). But due to lack of investment, they under-achieved and suffered relegation under his leadership.
Furthermore, the club’s market value is $381 million (£296 million); plus, they have a squad value of around $283.53 mil...