Bloomberg reported that the Saudi Public Investment Fund is considering buying another major football club in Europe, amid an ambitious and huge sports investment plan on the part of the fund.
The sources said that the fund is considering buying another team that plays in one of the five major leagues in Europe, according to what Al Arabiya.net reviewed.
The plan comes less than a week after UEFA announced that it would allow a group of clubs with the same owner to compete across elite competitions.
And the European Football Association allowed the clubs “Brighton & Hove Albion”, “Aston Villa”, the English, and “Toulouse” French, to play in its championships next season, despite the fact that their owners have interests in other clubs that will compete in the federation’s championships. The decision was reached after the owners of these clubs agreed to take steps to ensure they were run independently of one another.
This is a marked shift in UEFA’s stewardship of the multi-club model. For years, teams with the same owner have been banned from playing against each other in competitions like the Champions League and Europa League to preserve the integrity of their major leagues.
But the football ownership landscape has changed dramatically as wealthy investors from the US and the Middle East have sought increased exposure to the world’s most popular sport. Multiple club ownership is now prevalent in football, with proponents pointing to the ability to save costs by sharing data and players across teams and striking more lucrative business deals.
The PIF led the more than £300m ($391m) takeover of Newcastle United in 2021, in which Jamie Robben and Amanda Staveley from the UK participated as minority investors. Since then, the owners have invested heavily in the Premier League club, and Newcastle United will compete in the Champions League next season for the first time in 20 years.
Newcastle United’s owners have been scouting potential targets – including Belgian club KV Oostende – but have preferred to wait for a clarification of UEFA’s stance on multiple ownership before proceeding with any new takeover, according to the sources.
In recent weeks, Saudi Arabia has taken major steps to build its domestic football league by buying up a host of local teams and buying international stars, including several from the English Premier League.
