Newcastle United's takeover by Saudi Arabian-backed consortium agreed
CNN
A Saudi Arabian-backed takeover of Premier League club Newcastle United has been agreed, the Premier League announced on Thursday.
The three-party consortium includes the Saudi Arabian Private Investment Fund (PIF), venture capital and private equity company PCP Capital Partners, and RB Sports and Media
There has been much controversy about the PIF's involvement in the takeover, but the consortium was apparently able to successfully demonstrate that Saudi Arabia would not have control of the club and could therefore pass the Premier League's owners' and directors' test.
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