Newcastle takeover latest: Proposed £300m deal takes fresh twist as Saudi Arabia bans Middle East’s Premier League broadcaster beIN Sports
“The proposed takeover of Newcastle United hit a major stumbling block on Tuesday when the Saudi Arabian government banned the Premier League’s official Middle East broadcaster.”
“This comes despite the fact the Kingdom’s Public Investment Fund is trying to buy the Tyneside club.”
The Saudi government said that Qatari-based Premier League rights holder for the Middle East and North Africa region, beIN Sports, has had its license canceled and been fined £2.1million for ‘abusing its dominant position through several monopolistic practices’.
Top-flight English football in Saudi Arabia will not return until at least the 2022/23 season as beIN’s £400million deal will expire at the end of the 2021/22 season.
The proposed £300million takeover of the Magpies have been in the pipeline for the last three months, with Premier League lawyers assessing the move.