10 October 2021 - 10:58 AM
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Alamy | Newcastle United FC fans celebrating the ownership change outside St. James Park.
Did Saudi’s sovereign wealth fund just pick up the bargain of the year?
- PIF, Saudi Arabia’s sovereign wealth fund, purchased Newcastle United for £300 million. While much attention has been focused on the body’s ties to Saudi Arabia and it's poor human rights record, the valuation of the deal has largely been overlooked.
- Outgoing owner Mike Ashley is renowned for pushing hard bargains, but analysis shows that he possibly sold Newcastle as much as 15 per cent below its true value.
- Valuation of football clubs continues to be an intriguing topic of discussion. The impact of COVID-19 has impacted football clubs valuation by up to 40 per cent and provided enticing opportunities for investors.
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