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Newcastle's owners get major ownership of Cristiano Ronaldo's Saudi club Al Nassr

Posted : 06 June 2023
Newcastle United's majority owners, the Saudi Arabia Public Investment Fund (PIF), have acquired ownership of four prominent Saudi Pro League clubs, including Al Nassr, the team of Cristiano Ronaldo, and Al Ittihad, who are close to finalizing a deal to sign Karim Benzema.
 
 This move is part of Saudi Arabia's "Sports Clubs Investment and Privatization Project," with PIF obtaining a 75% stake in each of the clubs while the remaining 25% is transferred to non-profit foundations from the Saudi Ministry of Sport.
 
 Unlike major leagues such as the Premier League and LaLiga, Saudi Arabia does not have restrictions on multi-club ownership within the same competition, allowing PIF to become the majority shareholders.
 
The PIF has stated that it will work with the Saudi Ministry of Sport to ensure compliance with regulatory procedures.

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