Newcastle United takeover doubt claims as PIF could be ‘closely linked’ to Ligue 1 sale

A Saudi Arabian-led consortium is in pole position to buy Ligue 1 club Monaco - triggering questions about their links with the Public Investment Fund.

PIF - the sovereign wealth fund worth a cool £700billion - acquired an 80 per cent stake in Newcastle United almost three years ago. The October 2021 deal transformed the Magpies’ fortunes from relegation candidates to Champions League contenders.

Saudi Arabia has become a key player in sport, with landmark events across golf, boxing, MMA, F1 and WWE. The Saudi Pro League has also emerged as a financial powerhouse - competing with European clubs for marquee signings given the wealth at their disposal.

Reports have also linked PIF with Roma and Inter Milan since they became the majority shareholders on Tyneside. Any deal to buy another club could have severe consequences for Newcastle given UEFA’s rules on multi-club ownership.

The regulations state “no individual or legal entity may have 'control or decisive influence' over more than one club”. Manchester United and Manchester City have faced hurdles in recent weeks after qualifying for Europe given their owners’ links to Nice and Girona.

Monaco president Dmitry Rybolovlev is aiming to sell his 67 per cent stake in the Ligue 1 club. The front-runner is understood to be a Saudi-backed group looking to transform Monaco into serious players on the continental stage.

While the proposed buyers are not PIF, The Times claim UEFA will demand proof that there is not “enough of a link” with the shot-callers at Newcastle. During the Magpies’ saga, the Premier League famously required legally binding assurances of separation between PIF and the Saudi state.