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Newcastle United are perhaps the Saudi Public Investment Fund’s (PIF) flagship investment in sport but they are far from the only one and towards the more modest end of the spectrum in terms of cost. PIF own 85 per cent of Newcastle alongside the Reuben Brothers following the takeover engineered by Amanda Staveley, who has now left the club, in October 2021. Newcastle CEO Darren Eales, who recently announced that he will step down from his role following his cancer diagnosis, has previously said that PIF will always invest the maximum amount possible. But that maximum is capped by the Premier …

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