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Saudi Plans for Newcastle May Not Be on Scale of Man City Transformation Proposed Takeover Is Now Being Reviewed

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Saudi Plans for Newcastle May Not Be on Scale of Man City Transformation Proposed Takeover Is Now Being Reviewed Established 1961 19 Sports Tuesday, May 5, 2020 Saudi plans for Newcastle may not be on scale of Man City transformation Proposed takeover is now being reviewed DUBAI/MANCHESTER: A bid by a Saudi Arabian criminal conviction for fraud, are not bankrupt, and state fund to secure ownership of Newcastle United is have not been banned from serving as a company di- drawing scrutiny, but even if it succeeds it is unlikely rector. Newcastle supporters, however, are mostly ex- that the petrodollars will transform the Premier League cited at the prospect of major investment in their team, club into a powerhouse in the near future. which has not featured in the Champions League since The prospect of the Saudi bid fuelling a rapid rise 2004 and has not won the English title since 1927 or to the top, in the manner of Manchester City’s four title FA Cup since 1955, despite claiming one of the coun- successes under owners from the United Arab Emi- try’s largest fan bases. rates, has thrilled many Newcastle fans, but several an- The timing of the bid, though, is far from ideal — alysts believe that the investment impact may not be the Premier League is currently suspended due to the on such a scale. coronavirus pandemic. On Friday, Moody’s Investors A group fronted by British financier Amanda Stave- Service cut Saudi Arabia’s outlook to “negative” from ley, with an expected 80% “stable”, saying the oil investment from the Saudi price crash has raised fiscal sovereign wealth fund PIF risks for the Gulf nation. and 10 percent involvement “It is a relatively risky from billionaire brothers undertaking at a time when David and Simon Reuben, It’s a risky it looks like the kingdom have made a reported 300 will need a lot of liquid as- million pound ($375 million) undertaking sets to finance deficits and bid to buy the club from maintain its currency peg,” British businessman Mike says Steffen Hertog, Asso- Ashley. The proposal faces ciate Professor in Compar- The Saudi-led £300m takeover of Newcastle United has to pass one final hurdle, the Premier League’s some early obstacles and the ative Politics at the London owners and directors test, before the deal is completed. prospect of Saudi ownership School of Economics. of a top English club has been condemned by human rights groups. IMPROVING INFLUENCE “PIF does not have the experience or capacity to Al Arabiya news channel. Saudi Arabia was internationally criticised after the Hertog, like a number of observers, believes the be ‘hands on’ so would likely take a back seat,” says PIF manages over $300 billion in assets. It has been 2018 murder of prominent Saudi journalist Jamal Saudi involvement is aimed at improving the country’s Neil Quilliam, CEO of Gulf-focused consultancy in existence since 1971, but became a more active in- Khashoggi at the kingdom’s Istanbul consulate, the influence and image outside of its borders but says Castlereagh Associates. vestor since 2015 when it started reporting to a high- Yemen war and the detention of several women’s rights economic realities may limit PIF’s ambitions. Saudi Finance Minister Mohammed al-Jadaan ad- level economic body headed by the kingdom’s de facto activists. Added to that there is the long-running dis- “It definitely is part of an Abu Dhabi style soft dressed, in a television interview on Saturday, the issue ruler Crown Prince Mohammed bin Salman. pute with Qatari company BeInSport regarding alle- power strategy, but I am not sure how much extra of investments abroad, without directly mentioning PIF has been tasked with delivering on Prince Mo- gations of Saudi tolerance of ‘pirate’ broadcasts in the money they will pour into the club. Given current fiscal PIF’s potential bid for Newcastle. hammed’s ambitious economic transformation drive to kingdom — an issue which has been raised by some developments and the travails of some of the PIF’s “The investments are highly important because they reduce the kingdom’s reliance on oil revenues. parliamentarians in the UK. The proposed takeover is other assets, there are likely to be constraints to Saudi have returns we can use in case of a crisis to curb the The fund is headed by former Saudi banker Yasir now being reviewed as part of the Premier League’s generosity,” he said. deficit. If we use the reserves, we consume the assets al-Rumayyan, whose title is governor and is seen as “owners’ and directors’ test”, which was previously Manchester City’s UAE owners have been closely and won’t have any returns. close to Prince Mohammed. known as the ‘fit and proper person’s test’. involved in the major decision-making at the club with “Also, these types of crises create investment op- Financial sources have told Reuters that the crown Investors wanting to become owners of English Khaldoon Al Mubarak chairman since September portunities. Many companies reduce their investments, prince had a say on many strategic PIF decisions, such professional clubs have to show they have no unspent 2008 but that path may not be followed by the Saudis. which creates opportunities to invest in them,” he told as Softbank’s Vision fund investment. — Reuters cide three times during that period due Bowler Shami to severe stress,” said Shami. “I was not thinking about cricket at all. We were living on the 24th floor. They were considered scared I might jump from the balcony.” Shami’s contract with the Board of Snell sweeps suicide Control for Cricket in India was with- held in 2018 because of allegations of Giolito, wins first domestic violence, only to be rein- NEW DELHI: India fast bowler Mo- stated later. hammed Shami has revealed how he The bowler also struggled with in- MLB The Show thought of committing suicide while jury that saw him spend nearly a year struggling with personal problems be- on the sidelines, leading to weight gain. Players title fore making a spectacular comeback to He said his family and friends helped the national side. him bounce back. “My two or three Shami battled weight issues, injury friends used to stay with me for 24 WASHINGTON: Tampa Bay Rays star and and a legal quarrel with his estranged hours (during my days of depression). Cy Young hurler Blake Snell swept pitcher wife before a stellar performance at the My parents asked me to focus on Lucas Giolito of the Chicago White Sox on cricket to recover from that phase and World Cup last year re-established the Mohammed Shami Sunday to claim the inaugural MLB The Show 29-year-old as a key player. With not think about anything else,” he said. Players League title in dominating fashion. cricket and sports halted in the coron- “I started training then and sweated Snell claimed the best-of-five World Series avirus lockdown, Shami opened up it out a lot at an academy in Dehradun. took 14 wickets in four games including king Jasprit Bumrah and claimed 13 5-1, 3-2, 6-0 on his to winning 26 of his final about his own and his family’s fears to “Then my family explained that every a match-winning hat-trick. wickets during India’s 3-0 home Test 29 matchups overall. Snell lost just once over teammate Rohit Sharma during an ex- problem has a solution no matter how Shami has claimed 180 wickets in 49 sweep of South Africa. Skipper Virat his three playoff series. For a player who is change on Instagram. big the problem. My brother supported Tests and 144 scalps in 77 one-day in- Kohli heaped praise on the fast bowler, steadfastly stingy on the real mound, Snell “I think if my family had not sup- me a lot.” A lean and hungry Shami ternationals since making his debut for saying, “he is someone who can change posted a league-leading 145 runs during the ported me back then I would have lost made a strong comeback in the Indian India in 2013. Last year Shami led the the complexion of the match totally regular season of the Players League. my cricket. I thought of committing sui- team at the 50-over World Cup. He pace pack in the absence of yorker when you don’t see it coming”. — AFP “Usually I’m super-aggressive in this league,” Snell told MLB.com regarding his ap- proach at the plate going into the third game. CRICKET “But facing Lucas, I know he’s getting a lot Sport bids to step • The English season will not start until July 1 Hundred delay will better, and I knew I had to be a lot more pa- at the earliest and likely behind closed doors. The tient. Once he starts to learn how to hit better, new Hundred tournament has been scrapped until he’s gonna be nasty. I was happy I was able to out of virus shadow 2021. However, England could begin their resched- rob women’s game play him now, because he’s gonna be really uled three-Test series against the West Indies on PARIS: Sports’ big ticket events, the 2020 good.” July 8. Olympics, European football championships, Wim- of momentum “I haven’t faced many hitters like Blake,” The series was originally due to start on June 4 bledon and the British Open golf tournament have Giolito added. “He just sees the ball really well. at the Oval. Australia and Pakistan are still due to gone to the wall due to the coronavirus. However, It was an offensive onslaught, and it was too tour later in the summer.
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