The Saudi Arabian Crown Prince facilitated the purchase of Newcastle through the country&aposs Public Investment Fund (PIF), taking an 80 per cent stake in the Tyneside club. PIF are said to be approximately 13-times richer than the Manchester City owners with a worth of 320billion.
With such a value, PIF could undoubtedly have also bought United and taken on two Premier League clubs at the same time. However, in November last year, Saudi Arabian sports minister Prince Abdulaziz rubbished claims that the same group could make a move for United and instead talked up further private investment at St James&apos Park.
He told The Times: The PIF just invested in Newcastle and I think we are focusing as a PIF on that. If there is a private investor that wants to come in, why not.
I think it is a good opportunity and if the numbers add up and we can all benefit from that from a business perspective, why not. If there really is an opportunity that benefits us I would encourage the private sector to do so.