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.
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The Saudis are understood to want to develop the club's facility, build a better academy to pursue their footballing ambitions.
With rumours of the Saudis possibly investing more than $250m in the club, it is safe to say they have a chance to win the premier league before Manchester United.
How do you feel about this sale? feel free to Express yourself in the comments.
