
Newcastle United takeover: £305m Saudi Arabian-backed deal completed
The Premier League has approved the takeover after receiving "legally binding assurances" that the Saudi state would not control the club.
Instead the Public Investment Fund (PIF), which will provide 80% of funds for the deal, is seen as separate to the state.
This is despite the Crown Prince of Saudi Arabia, Mohammed bin Salman, being listed as chair of PIF.
The sale went through after the deal passed the Premier League owners' and directors' test.
The takeover brings to an end Mike Ashley's 14-year spell as Newcastle United owner.
Katie Razzall is joined by Chair of Newcastle United Supporters Trust Greg Tomlinson.
Duration:
This clip is from
More clips from Newsnight
-
Newsnight Trailer (short)—Is it too late to regulate AI?
Duration: 00:20
-
Archive: Life inside Gaza’s front line town of Rafah (2004)
Duration: 11:24
-
Archive: Israeli soldiers search for tunnels in Gaza (2004)
Duration: 10:48