The Saudi sports minister prince Abdulaziz bin Turki Al-Faisal has broken his silence on the proposed plan to invest in the Premier League with clubs like Manchester United and Liverpool looking for potential buyers.
The Glazers recently declared that they are looking to sell the club and have been exploring strategic alternatives with the investors. Since then, middle eastern countries have been largely linked with the ownership role.
Last year, Newcastle were the target of a Saudi-financed consortium, with Public Investment Fund (PIF), the nation’s sovereign wealth fund, obtaining an 80% stake to become the majority shareholders at St. James’ Park.
PIF is estimated to be worth £320 billion, making them almost 13 times as wealthy as the owners of Manchester City. However, because they already own a majority stake in Newcastle, they would be unable to purchase United from the Glazers.
Saudi Arabia’s sports minister said his government would “definitely support” private sector bids for Manchester United and Liverpool, with both English soccer giants now on the market #SportsBiz #MUFC #LFC
— SportsPro (@SportsPro) November 25, 2022
Due to Saudi Arabia’s human rights record, Newcastle’s acquisition has also been under intense scrutiny and accusations of sports washing, which has prompted calls for the Premier League to amend its owners’ and directors’ criteria.
However, the Saudi prince has appreciated more investment in the English league. He is open to the idea of his nation’s investors taking interest in the bidding process and that his consortium will help any investor who is willing to take the step ahead.
As reported by SkySports, the sports minister said:
“I hope so if there are investors and the numbers add up, and it makes a good business. Then the private sector could come in, or companies could come in, from the kingdom.”
“The Premier League is the best league in the world. Everyone’s watching the Premier League. It’s the most watched league and there are diehard fans of these teams in the kingdom. So it would be a benefit for everyone.”
“I can say that we have a strong league. It’s not one of the strongest in Asia. You know, we’re building towards a better future. And we see how the future holds up for that.”
Although PIF has investments in Newcastle, this does not preclude private-sector investment in the Kingdom.
Before the Newcastle takeover, Abdullah bin Musaid Al Saud, who established a paper manufacturing company in 1989, already owned Sheffield United. He purchased 50% of the team in 2013 and then assumed full control of it in 2019.
It would be no surprise if they attempt to buy another team in the Premier League.
