NEWCASTLE are on the verge of being taken over by a Saudi Arabian consortium.
According to reports, the group, which is backed by Crown Prince Mohammad Bin Salman, has agreed a deal to take the club off Mike Ashley’s hands.
Who is Mohammad Bin Salman?
Mohammad bin Salman is the Crown Prince of Saudi Arabia – the country’s second most important position after the King.
He is the son of King Salman, but is in reality the most important and influential person in the Kingdom, given that his father suffers from Alzheimer’s.
Bin Salman obtained the position in summer 2017 after a power struggle with cousin Mohammad Bin Nayef, who was initially named Crown Prince but subsequently removed from all positions.
The 34-year-old also serves as the country’s Minister of Defence and deputy prime minister.
After he took over as Crown Prince, Bin Salman launched a huge anti-corruption campaign, arresting around 500 people, closing 2,000 domestic accounts and targeting cash assets worth around £600bn.
He has also declared that he wants Saudi Arabia to become a country of moderate Islam, slowly introducing reforms such as allowing women to drive and introducing cinemas to the conservative state.
But he has been criticised for increasing restrictions on press freedom, particularly in the wake of the murder of journalist Jamal Khashoggi inside the Saudi Consulate in Istanbul.
Bin Salman married Princess Sarah bint Mashhoor in 2008 and has four children with her.
Is Mohammad Bin Salman taking over Newcastle?
Previously linked with Manchester United, Bin Salman appears to heave turned his attention to Newcastle.
Although the takeover is fronted by Amanda Staveley, the Saudi Crown Prince is believed to be heavily involved in the consortium.
The directors of JV1 are Staveley, Stephane Nayum and Mehmet Saydam — the latter two are close associates of brothers David and Simon Reuben, the billionaire British tycoons set to take a ten per cent stake.
Does Mohammad Bin Salman have any other investments in football?
So far, Saudi Arabia’s influence in world football has been relatively marginal, with Emirati and Qatari investment taking centre stage with the purchases of Man City and PSG respectively.
Under Bin Salman, the country’s biggest play in football was banning Qatar’s beIN SPORTS from broadcasting in the country.
BeoutQ, a firm allegedly based in Saudi Arabia, has been pirating the beIN SPORTS coverage of the Premier League.
And for this reason the Premier League had been blocking the takeover, with beIN the official rights holder.
However, the move got the all clear in October 2021 with Saudi Arabia allowing beIN Sports back into the country following a thaw in relations with Qatar.
Another Saudi Prince, Musa’ad bin Abdulaziz Al Saud, took control of Sheffield United in 2019 after winning a court case against previous owner Kevin McCabe.
What is Mohammad Bin Salman’s net worth?
Bin Salman’s net worth is estimated at around £13bn.
The puts him slightly behind Man City owner Sheikh Mansour, who is reported to have a £17bn fortune.
However, Bin Salman would effectively have the riches of the entire Saudi Royal Family behind him, with their total net worth believed to be as high as £1.3TRILLION.
In comparison, the net worth of the Abu Dhabi Royal Family, who own City, is believed to be around £500bn.
And Queen Elizabeth’s net worth is a meagre, by comparison, £382m.
Source: Soccer - thesun.co.uk
