Newcastle’s Saudi takeover in making
LONDON: A Saudi takeover of English Premier League club Newcastle edged closer on Wednesday with the Gulf state set to lift its ban on Qatar-based beIN Sports.
The broadcaster, which holds the rights to the Premier League in the Middle East and North Africa (Mena), was banned by Saudi Arabia in 2017 at the start of a diplomatic and transport blockade of Qatar which ended in January.
“Saudi Arabia’s 4.5-year illegal ban on beIN is going to be reversed,” a source close to the matter told AFP.
The source added that Riyadh was seeking to settle Qatar’s US$1 billion arbitration claim over pirate broadcasts to Saudi audiences by the BeoutQ network.
No reaction was immediately available from Saudi officials.
Riyadh denied any involvement with BeoutQ, but its failure to take action against the channel was a key reason for the Premier League’s decision last year to effectively block a £300 million ($370 million) Saudi bid for Newcastle.
A Competition Appeals Tribunal last week heard that the league was “improperly influenced” by English top-flight clubs and beIN in making its decision.
An arbitration hearing has been set for January, but it may no longer be necessary with reports in England suggesting the deal could get the green light from the Premier League in the coming hours.
A consortium featuring Saudi Arabia’s Public Investment Fund, Amanda Staveley’s PCP Capital Partners and the Reuben Brothers withdrew its offer for Newcastle in 2020 following a long wait to approve the deal.
Saudi Arabia, the United Arab Emirates (UAE), Bahrain and Egypt cut ties with Doha over allegations it supported extremists and was too close to arch-rival Iran, accusations that Qatar denied.
Ties have improved markedly this year.
Crown Prince Mohammed bin Salman, Saudi Arabia’s de facto ruler, was last month pictured grinning with Qatar’s emir and the UAE national security advisor in beachwear.