Saudi Arabia's investment fund has acquired an English football club


October 8, Fineko/abc.az. Arab billionaires have acquired another English Premier League club.

ABC.AZ reports that English football club Newcastle was sold to the fund of Saudi Arabia for 300 million pounds. And the owner of the fund is the current head of Saudi Arabia, Mohammed bin Salman.

The club will be managed by former model and athlete Amanda Staveley. The previous owner of the club since 2007 was Michael Ashley.