Senior Saudi figure drops hint on Newcastle United 'enhancements' and brilliantly reacts to Premier League sponsor ban

Saudi Arabia’s finance minister has spoken about the £300million takeover of Newcastle United.

The club is now 80%-owned by the Public Investment Fund (PIF), the country’s sovereign wealth fund, with Amanda Staveley’s PCP Capital Partners and Jamie Reuben’s RB Sports & Media also having 10% stakes.

Staveley spoke about the consortium’s plans for the club after the Premier League finally approved the deal, and finance minister Mohammed Al-Jadaan has addressed the deal in an interview with CNBC Middle East.

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“Obviously, this is a PIF investment, and, basically, as they said, they’re investing in the club, the community, and the academy and the stadium itself,” said Al-Jadaan. “It’s also touching the people and reaching out.”

Premier League clubs voted this week to temporarily ban commercial arrangements that involve pre-existing business relationships. This move was aimed at stopping Newcastle striking lucrative sponsorship deals with Saudi companies.

Asked about the move, Al-Jadaan said: “I don’t know the technicalities of the association.

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"But I would say if people are worried about competition amongst clubs, and particularly now that we have invested in one of them, possibly that’s a good sign, that’s a potential serious competitor coming their way, which is good for the whole football community.”

Asked if he thought Newcastle, 19th in the Premier League, would win their next game, Al-Jadaan said: “I hope they will, (although) I don’t follow football.

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Yasir Al-Rumayyan, Newcastle United's new non-executive chairman, and part-owner Amanda Staveley at St James's Park on Sunday.

"I wish they would see the ambition come through, and I’m fairly confident with investment coming their way, and the community and the stadium, I think we will see an enhanced club.”

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