2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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PiF
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AIL
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ADNOC
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City Sports Group
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Detailed explanation-1: -In a concurrent statement, Yasir Al-Rumayyan – the Governor of PIF and the new Non-Executive Director of Newcastle United – said: “We are extremely proud to become the new owners of Newcastle United, one of the most famous clubs in English football.
Detailed explanation-2: -PIF now own 80 per cent of Newcastle, with the Reuben brothers’ RB Sports & Media owning 10 per cent and Amanda Staveley’s PCP Capital Partners holding the other 10 per cent.
Detailed explanation-3: -It brings the total amount invested in the club by the ownership group to $512m (£450m). PIF finally sealed a long-fought acquisition of Newcastle United in October 2021. Overnight, Newcastle became part of an exclusive club of European teams bankrolled by Middle East investors with seemingly unlimited resources.