The head of Saudi Arabias sovereign wealth fund, Yasir Al Rumayyan, is set to be named as non-executive chairman of Newcastle United if it acquires the historic English soccer club, according to people familiar with the takeover talks.
Newcastle s £300million takeover by a Saudi Arabian consortium has finally been completed, bringing to an end Mike Ashley s controversial 14-year reign at St James Park.
(Bloomberg) Saudi Arabia’s sovereign wealth fund has taken over Newcastle United FC from billionaire Mike Ashley after it received approval from the U.K.’s Premier League following a year and a half wait.