Mohammed bin Salman dislikes criticism. Saudi Arabia should therefore spend heavily on players now it hasacquired Newcastle United with minority investors. This would buy the Gulf State ruler some of the popularity he has lacked in the UK since Saudi agents murdered dissident journalist Jamal Khashoggi in 2018. Fans would be less likely to chant the kinds of insults about the Crown Prince directed at thrifty Mike Ashley, the previous owner.
Money is no object for Saudi Arabia when purchasing prestige and acceptance. Newcastle United have been relegated twice in 20 years and the club regularly loses money. But it has an illustrious history and is the only club that matters in the city it represents. Moreover, a barrel of Opec oil has increased six times in value since the £300m takeover was announced last year.
Money has been a problem for the Premier League. It could not permit Saudi Arabia’s sovereign wealth fund to purchase the Magpies while the country was embroiled in a regional spat with Qatar. One element of this was alleged Saudi piracy of English football broadcasts for which a Qatari broadcaster had paid billions.
Now Saudi Arabia and Qatar have reportedly settled that dispute, they can transfer their regional rivalry to the football pitches of Europe. Qatar controls Paris Saint-Germain while Abu Dhabi owns Manchester City.
The terms of the league’s suitability test are harder and clearer on commercial conflicts of interest than human rights, where Saudi Arabia’s record is dire.
The Premier League says it has received “legally-binding assurances” that Saudi Arabia will not control the club. These sound as insubstantial as the “relationship agreements” oligarchs signed as a sop to governance watchdogs in the noughties when listing their businesses in London.
Another face saver is the presence in the consortium of such minority partners as deal mastermind Amanda Staveley. Newcastle should now receive a flood of fresh capital, pushing it into a “Big Eight” of English clubs. And the Premier League will reinforce its position as Europe’s wealthiest sports tournament.