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Rumors are swirling around the Saudi Public Investment Fund (PIF) regarding their potential interest in acquiring Liverpool from Fenway Sports Group (FSG). However, PIF would first need to sell their existing Premier League club, Newcastle, before they could invest in Liverpool; former Everton CEO Keith Wyness recently explained on the Inside Track podcast. This revelation sheds light on the financial and regulatory complexities surrounding any possible Saudi takeover of the Merseyside club.
The PIF completed its acquisition of Newcastle in late 2021, ending the reign of former owner Mike Ashley. Since then, the Magpies have enjoyed a remarkable transformation; including qualifying for the UEFA Champions League for the first time in years. The team, under Eddie Howe’s management, has experienced a resurgence; positioning itself as a consistent top-half Premier League contender. However, the journey hasn’t been without challenges; including struggles in the 2022-23 season due to injuries and financial limitations related to Profit and Sustainability Rules.
Despite the success on the pitch, there have been murmurs of frustration within PIF regarding some of Newcastle‘s recent transfer market setbacks; such as missing out on several key players this summer. These frustrations have fueled rumors of a possible sale of the club; coupled with growing speculation about PIF’s potential interest in the Reds.
PIF’s financial strength and strategic interests
PIF’s vast financial resources have allowed the fund to make significant investments across various sports. One of the most high-profile deals involved the merger between the PGA Tour and LIV Golf, a Saudi-backed venture. According to reports, FSG owner John Henry partnered with PIF to broker this $1 billion merger deal; leading to speculation that the partnership could extend to soccer.
However, as Wyness pointed out, PIF’s involvement with Liverpool would require them to offload their stake…
Source link : https://worldsoccertalk.com/news/pif-to-sell-newcastle-to-buy-their-premier-league-rivals/
Author : Martina Alcheva
Publish date : 2024-09-27 17:02:48
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