Newcastle owner takes control of Ronaldo's team

Saudi Arabia The Saudi Arabian Public Investment Fund (PIF) has announced that it will take control of four of the country's top football clubs, including Cristiano Ronaldo's Al Nassr.

On June 5, PIF - the fund that currently owns 80% of the shares of Premier League club Newcastle United - announced that it will take control of the clubs Al Ittihad, Al Ahli, Al Nassr and Al-Hilal.

The takeover is part of Saudi Arabia's "Privatization and Investment Project for Sports Clubs," which will see PIF hold 75 percent of each of the four teams, with the remaining 25 percent transferred to non-profit entities from the Saudi Ministry of Sports.

Previously, Saudi Arabian clubs were "owned but not controlled" by the Ministry of Sports.

Ronaldo at his debut with Al Nassr in January 2023. Photo: AFP — Ronaldo at his debut with Al Nassr in January 2023. Photo: *AFP*

Multiple ownership of clubs in the same competition is not allowed in major leagues around the world , including the Premier League and La Liga. UEFA has required the owners of RB Leipzig and RB Salzburg to demonstrate clear differences in their organizational structures to allow both clubs to compete in European competition.

But football in Saudi Arabia has no such restrictions, and as a result, PIF has become a major shareholder in four Saudi Pro League clubs at once. In a statement on Twitter , PIF said it would work closely with the Saudi Ministry of Sports to coordinate all necessary legal procedures.

Among the clubs taken over by PIF, Al Nassr recruited Ronaldo with an income of 200 million USD per year, including 75 million USD in playing fees, the rest coming from image rights, commercial contracts and his ambassadorial role.

Al-Hilal have submitted a $440 million annual salary proposal with the ambition of recruiting Lionel Messi in the summer of 2023. Al Ittihad is close to completing the signing of Karim Benzema on a free transfer. Meanwhile, Al-Ahli have just won promotion to the Saudi Pro League.

Benzema and Messi are expected to be the next stars to land in the Saudi Pro League after PIF took over the league's major clubs. Photo: AP

According to British newspaper Sunsport , if Ronaldo, Messi, Benzema all go to Saudi Arabia, Newcastle could sign these stars on loan. There is no limit on the number of players a Premier League club can loan from abroad, meaning that in theory, the "Magpies" could sign all three.

However, such deals could face strong opposition from Premier League clubs, with the organisation also looking closely at the matter if Newcastle were to sign a star on loan without paying "fair market value".

In October 2021, PIF, along with two other investors, acquired Newcastle for $415 million. PIF is one of the world's largest investment funds, with total assets estimated to reach at least $500 billion in 2021, and expected to reach more than $1,000 billion by 2025. They hold 80% of Newcastle's shares. PIF is chaired by Saudi Arabia's Crown Prince Mohammad Bin Salman.

Newcastle fans are happy when PIF buys the club at the end of 2021.

Since taking over at St James' Park, PIF has spent a large sum of money for Newcastle to recruit coach Eddie Howe and many stars such as Alexander Isak, Nick Pope and Anthony Gordon. Thanks to that, the "Magpies" had a successful season when reaching the League Cup final and finishing fourth in the Premier League to return to the Champions League after 20 years.

Hong Duy

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