LONDON — When Saudi Arabia’s sovereign wealth fund took a majority stake in English soccer team Newcastle United in 2021, the Premier League set a clear condition before approving the sale. Newcastle, the league said, could not be controlled in any way by the Saudi government.
The Saudi Public Investment Fund assured the league that the team’s operations would be free of state influence, although the fund’s chairman is Saudi Crown Prince Mohammed bin Salman.
Copyright ©2023 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8
