Newcastle United's Saudi Arabian owners have taken a majority stake in four of the country's biggest teams, including Cristiano Ronaldo's Al-Nassr.
The Public Investment Fund (PIF), which owns 80 per cent of Newcastle following a lengthy takeover process, is taking 75 per cent stakes in Al-Nassr, Al Hilal, Al-Ahli and Al-Ittihad, with the latter understood to be interested in signing Karim Benzema after his intention to leave Real Madrid at the end of the season was confirmed.
A statement on the PIF Twitter account read: “As part of today’s announcement of the Sports Clubs Investment and Privatization Project, four Saudi clubs – Al Ittihad, Al Ahli, Al Nassr, and Al Hilal – have been transformed into companies, each of which is owned by PIF and non-profit foundations for each club.”
