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According to The Times, a Saudi Arabian-backed group in pole position to buy AS Monaco will be scrutinised amid fears they could act as a sister club to Newcastle United.
There are already several groups overseeing multi-club models – just look at the City Group and Man Utd’s owners also owning OGC Nice. But despite the Public Investment Fund (PIF) not being part of this takeover bid of Monaco, it is still being closely monitored to make sure there is no unfair advantage given to Newcastle.
Newcastle have already been left frustrated by spending restrictions and the number of newly-formed rules that have worked against our ambitious owners, and now UEFA are doing all they can to prevent multi-club ownerships from competing in European competitions.
The Times report that Uefa’s MCO (multi-club ownership) rules are expected to be stiffened from the 2024-25 season, which explains why the PIF’s link to this Saudi consortium is being checked. Another rule change that’s set to come into action on the back of our takeover…
A Saudi Arabian-funded group has emerged as the frontrunner to buy Monaco but the potential takeover could hinge on whether the French side would be judged as a sister club of Newcastle United
Read the full story ⬇️https://t.co/xdR9A3FeDV
— Times Sport (@TimesSport) June 25, 2024
Source link : https://www.nufcblog.co.uk/2024/06/27/new-saudi-takeover-set-to-be-scrutinised-over-newcastle-links-the-times/
Author : Andrew Reynolds
Publish date : 2024-06-27 17:40:23
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