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.