Football attracts Saudi investment to England’s north-east
It can do for Newcastle what the UAE did for Manchester—for good and ill
THESE DAYS Saudi Arabian flags often fly among football fans in Newcastle, a city in the north-east of England. That has been happening since October 2021, when the kingdom’s Public Investment Fund (PIF), a sovereign wealth fund, acquired an 80% stake in Newcastle United, the beloved but perennially underperforming local football team. Celebrating fans rushed to St James’ Park, the club’s stadium, waving flags and wearing tea-towels on their heads as improvised keffiyehs.
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This article appeared in the Britain section of the print edition under the headline “Howay the Sauds”
Britain January 27th 2024
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