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Who are Newcastle's Prospective New Owners? - YouTube
Channel: Tifo Football
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after 13 years of hostility and failure
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Mike Ashley's accurate ownership of
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Newcastle United looks like it's finally
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over gone will be the hard-drinking
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self-made billionaire who will likely be
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replaced by very different owners the
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public investment fund the sovereign
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wealth fund from Saudi Arabia chaired by
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the country's Crown Prince Mohammed bin
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Salman and worth 320 billion dollars
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there was near universal joy of the news
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that Ashley's tenure was at an end of
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course there's a long list of
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transgressions to relegations the
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traduce enough club legends like Alan
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Shearer and Kevin Keegan the renaming of
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some James's Park the sports director
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Rina and 13 years of financial drought
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that reduced the team to a life of
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mediocrity many supporters felt that
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Ashleigh had used the club as little
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more than an advertising hoarding for
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his retail Empire whilst putting in the
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absolute minimum amount of investment
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needed to keep the premier league's TV
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riches rolling in and finally though
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after years of embarrassment it looks
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like Ashley is on his way
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enter New Castle's prospective owners
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Saudi Arabia has the second largest oil
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reserves in the world so overnight the
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purchase made Newcastle United the
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richest club in the world
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owned effectively by one of its richest
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men yet most people have seen a
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different face to the bit it's being led
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by Amanda Staveley a British born
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dubai-based dealmaker born into a
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wealthy Yorkshire family Staveley has
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made a name for herself thanks to a
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bulging contacts book that today has her
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trusted by some of the Middle East's
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wealthiest men famously Staveley helped
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broker the 2008 deal that saw Sheikh
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Mansoor by manchester city and a few
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months later Stavely and her PCP capital
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partners helped broker a deal that
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brought Sheikh Mansoor to Barclays Bank
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the financial crisis was in full swing
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and Barclays were desperately trying to
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raise funds to avoid being part
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nationalized Staveley brought Sheikh
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Mansour to the table who invested 3
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billion pounds alongside investment from
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katar which saved the bank from having
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to go cap in hand to the government
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Sheikh Mansour walked away with close to
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three billion pounds worth of profit
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Stavely made 30 million pounds but she
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felt that that wasn't enough
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currently PCP is suing Barclays bank for
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three-quarters of a billion pounds worth
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of fees that they feel they are still
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owed but Staveley will be more than just
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a broker for this deal PCP is set to
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take a 10% stake in Newcastle and will
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likely run the day-to-day operations of
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the club David and Simon Reuben who are
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worth 18.66 four billion pounds and sit
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in second place on the 2019 Sunday Times
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Rich List will also take 10% but the
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other 80% and effectively the club's
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troop and official owner will be
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Mohammed bin Salman known universally as
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MBS last October Staveley flew to MBS is
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500 million pounds mega yacht the serene
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to resurrect a deal which at the time
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seemed to be losing momentum
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unsurprisingly for a man who controls a
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bottomless pit of cash in the levers of
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power in the desert kingdom the deal was
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quickly brought back on track but this
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time with the powerful backing of the
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pif when MBS was anointed crown prince
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in 2017 he was initially hailed by
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allies in the region and the West as a
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moderate and as a reformer who wanted to
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quickly wean the country's economy off
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oil dependency while loosening the tight
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social and religious restrictions on its
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growing young population here was a
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young ally who loved Margaret Thatcher
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and was inspired by the innovation of
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Apple Google and Microsoft he liked to
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play computer games and he had a taste
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for the finer things in life he
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purchased what is believed to be the
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most expensive house in the world in
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France for 300 million dollars in 2017
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he spent more on a single painting 335
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million pounds on Leonardo da Vinci's
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Jesus Christ than he is now set to on
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acquiring Newcastle United but he also
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wanted to change Saudi Arabia's image
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now there's long been criticism of Saudi
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Arabia's human rights record it follows
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an ultra conservative form of Islam
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called Wahhabism there are heavy
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restrictions on when
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and a guardianship system that has
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created a form of gender apartheid there
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is precious little democracy and
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virtually no freedom of speech reporters
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without borders
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2020 World Press Freedom Index places
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Saudi Arabia 170 a--the out of 180
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countries it also routinely executes
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more people than almost any other
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country in 2019 Saudi Arabia executed a
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record 184 people some of them children
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at the time of their convictions
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including 37 people executed on a single
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day however the Saudi authorities have
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just announced a ban on the executions
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of those convicted as children as well
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as a ban on public floggings yet any
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reforms have been tempered by crackdowns
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and accusations of abuses in other areas
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MBS has also been accused of a litany of
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human rights atrocities from pursuing an
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air war in Yemen that has killed tens of
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thousands of civilians to jailing Saudi
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activists including women who had
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protested the kingdom's ban on women
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driving to or during the murder of Jamal
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khashoggi a prominent Saudi critic and
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journalist for the Washington Post at
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the Saudi consulate in Istanbul
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NBS was never meant to be a king the
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house of saud is a sprawling family of
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princes and princesses all paid a
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stipend depending on their proximity to
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King Abdul Aziz known more widely as it
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nurse out the founder of modern Saudi
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Arabia he had 36 sons and 27 daughters
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and it's estimated that the family could
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number 15,000 members but the throne
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only passes through the sons and it took
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a series of deaths from sons and crown
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princes who passed away from poor health
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before the twenty-fifth son Salman bin
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Abdul Aziz the governor of Riyadh became
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King in 2015
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MBS was King Salman's sick but favorite
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son rather than travel abroad to study
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in Paris or London or New York MBS
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stayed in Saudi Arabia studied law in
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Riyadh and became his father's advisor
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staying by his side
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when Salman bin Abdulaziz became King in
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2015 MBS was rewarded at the age of just
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thirty he was deputy Crown Prince and
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given the plum state portfolio of
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defense what followed was a disastrous
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military campaign in Yemen after rebel
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hootie forces who the Saudis accused of
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being proxies for their great regional
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rival Iran took the capital of sana
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forcing the government into exile
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alongside his mentor Mohammed bin Zayed
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Crown Prince of the UAE and brother to
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Sheikh Mansour and with support and
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weapons from the US and the UK MBS
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oversaw a ruinous air campaign and naval
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blockade that killed thousands of
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civilians and starved much of the
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country the Hootie's still remain a
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powerful force five years later and in
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2017 he outmaneuvered his rivals to be
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named Crown Prince soon enough the
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purges began the most famous of which
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took place at the ritz-carlton and
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Riyadh overnight hundreds of prominent
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Saudi businessman and royal family
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members were seized and taken to the
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hotel which had been transformed into a
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gilded prison they were held for weeks
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until many signed over large parts of
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their fortunes it was portrayed by MBS
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and his allies in the West as an
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anti-corruption crackdown designed to
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repatriate 100
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of billions of dollars back to state
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coffers Saudi Arabia's vast oil wealth
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meant that graft was a significant
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problem but one which had largely been
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accepted especially in the West as a
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cost of doing business it just so
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happened that the people arrested were
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mbss rivals during his rise to power
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and after the Ritz Carlton incident mbss
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power was almost unimpeachable in a
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dewy-eyed profile of NBS by Thomas
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Friedman in The New York Times he denied
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that the move was a power crap so you
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have to send a signal when the signal
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going forward now is you will not escape
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said NBS the crackdown on the super-rich
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was welcomed in the kingdom and
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encapsulated two strands of MPS's
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approach as the New York Times
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journalist Ben Hubbard wrote in his new
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book MBS the rise to power of Mohammed
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bin Salman his rise has been dominated
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by two simultaneous drives he has
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championed a vast social and economic
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overhaul in tandem with an extreme
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concentration of authoritarian power
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meanwhile the rest of the world was
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being charmed by MBS he became a key
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ally of US President Donald Trump and
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enjoyed a bromance with Trump's
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son-in-law Jared Kushner he was the face
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of vision 2030 a vast plan to
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revolutionize the Saudi economy and
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diversify it away from oil it was
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announced that cinemas would reopen
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after being closed at the behest of
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religious conservatives in the 1970s who
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believed they were Una's lamech concerts
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and WWE contests were hosted as were
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boxing matches and high-profile sports
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events like the Italian and Spanish
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super cups and is also thought that
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Saudi money is the driving force behind
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FIFA's new global Club World Cup FIFA
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president Gianni Infantino welcomed MPs
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to the opening game of the 2018 World
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Cup sitting between him and Vladimir
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Putin women were allowed into Saudi
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football matches for the first time and
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the ban on women driving was lifted yet
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at the same time Saudi Arabia was
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jailing and allegedly torturing
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activists that spoke out against the
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regime even on issues that MBS had taken
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credit for luge NL has flew a feminist
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activist who'd campaigned for the
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lifting of the ban on women driving
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rested whilst in the UAE and flown to
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Saudi Arabia according to her family she
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was tortured and threatened with rape
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her brother now in exile in Canada gave
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an interview with The Guardian he
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claimed that her torture was overseen by
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Saud al Kitani one of MBS is key allies
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and advisors at the time she remains
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behind bars the worst example however
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was the murder and dismemberment of
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Jamal kihachi
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the saudi journalist had once been a
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trusted palace insider but fled the
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country fearing for his life he had
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written critical articles about MBS and
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Saudi reform which he continued to do so
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for The Washington Post
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when he visited the Saudi consulate in
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Istanbul in October 2018 to arrange the
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paperwork so that he could marry his
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Turkish fiance her teacher Cheng as he
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was seized tortured and then dismembered
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with a bone saw now despite Donald Trump
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running interference for MBS and the
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Saudi vehemently denying they had
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anything to do with cashew cheese murder
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the Saudis eventually admitted that he
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had been killed by rogue agents many of
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whom were from MBS is inner circle I get
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all the responsibility because it
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happened under my watch MBS later said
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in an interview with PBS Frontline sal
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del Kotani was again implicated the u.s.
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placed sanctions on him too but a soundy
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court cleared al Kitani of any
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wrongdoing that is the antithesis of
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justice and an unacceptable lack of
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respect to the victims said agnes Kalmar
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the UN's Special Rapporteur on
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extrajudicial summary or arbitrary
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killings the CIA later concluded the NBS
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likely did order the killing as the
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Washington Post wrote quoting a US
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official the CIA sees MBS as a good
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technocrat but also as volatile and
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arrogant someone who goes from zero to
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60 and doesn't seem to understand that
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there are some things you can't do
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now NBS is of course not the first Gulf
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monarch to buy a football club both
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Qatar with the 2022 World Cup and PSG
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and the UAE with their purchase of
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Manchester City have invested heavily in
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the game and they weren't interested in
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profit they were after something else
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reputation laundering sports washing and
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the chance to offer an alternative story
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about the country to the rest of the
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world there is no greater billboard than
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televised European football especially
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in the Premier League and Champions
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League and the Saudi state now appears
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to want a part of them there's already
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been a heated online debate about the
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sale invoking Saudi Arabia's appalling
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human rights record and although there
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is no ethical dimension to the Premier
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League owners and directors test they do
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still have the power to stop the deal
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the test was beefed up during the wave
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of Chinese investment over the past few
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years South Hamptons prospective owners
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Yoji Shang had admitted to bribing
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officials in China ten years earlier but
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rather than do time he turned state's
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witness
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now that was enough for the purchase to
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be held up and a new clause was added to
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the test covering the failure of a
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prospective owner to hand over all
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relevant financial information and most
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importantly to Newcastle United and pif
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a clause that states that a crime
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committed in another state even if not
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prosecuted there could be a
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disqualifying matter but that would
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cause a diplomatic earthquake Saudi
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Arabia is a staunch ally of the United
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Kingdom MBS has shaken hands with the
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Queen and her government and until
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September last year when a British Court
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halted the practice the country had been
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sold billions of pounds in arms which
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were then used against the civilian
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population in Yemen billions of pounds
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are also invested in London real estate
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and here is a fund and a man willing to
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invest money during the greatest
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economic contraction in the country's
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history
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so Newcastle fans have a point when they
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question the moral outrage over the
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purchase of their club particularly
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given the comparative reaction to BAE
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Systems selling fifteen billion pounds
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worth of arms and military equipment to
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Saudi Arabia over the past five years
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the priority for many was simply to get
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Ashley out replaced by someone
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anyone with the resources to rebuild and
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burnish would have been sullied but the
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Saudi takeover could just as much sully
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and burnish the club's reputation if
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football was to have a line in the sand
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over the moral probity of its owners
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you'd be hard-pressed to find a clearer
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one than the Saudi state being allowed
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to buy a Premier League football club as
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Amnesty International wrote in a letter
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to the Premier League chief executive
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Richard masters on April the 21st unless
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the Premier League pauses and look
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seriously at the human rights situation
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in Saudi Arabia it risks becoming a
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patsy a willing dupe of those trying to
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sports wash their abysmal human rights
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records and no one alleges the intention
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behind such a purchase with more clarity
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than Jamal Co Shah jees fiance had
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teacher Cheng case I can say that the
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one incident that has hurt the
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reputation of Saudi Arabia the most was
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Jamal's murder it continues to it has
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destroyed his reputation he's
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desperately trying to use these types of
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deals to repair his image if the UK and
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the Premier League accept him it shows
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other countries that he is now accepted
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[Music]
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today's video is paired with a written
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piece by the same author to take the
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story further read more from James
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Montague's interview with her teacher
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Cheng s and to answer the question why
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does the pif fund want to buy Newcastle
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United you can get a free trial to the
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athletic your support enables us to make
[934]
more videos like today's thank you for
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watching
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you
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