Saudi Arabia’s Public Funding Fund, the present homeowners of Newcastle United, are reportedly in negotiations to buy Belgian membership KV Oostende. The present possession group behind the Magpies has been trying to put money into one other crew for months as a part of a world partnership.
The Athletic claims that KV Oostende could also be available for purchase for round $12.4 million. While at the moment within the Belgian Professional League, Oostende will probably be relegated from the highest flight on the finish of the season.
De Kustboys secured a relegation spot after final week’s defeat to Oud-Heverlee. Oostende has yet another league match earlier than their relegation to the Challenger Professional League. They beforehand spent the final decade within the Belgian high flight.
Majority homeowners of Newcastle United main chase for Belgian membership
Saudi Arabia’s Public Funding Fund (PIF) was a part of a consortium that bought Newcastle United in 2021 for over $400 million. The Saudi fund, led by Crown Prince Mohammed bin Salman, owns 80% of the North East membership. Minority traders within the Magpies embrace Amanda Staveley, in addition to David and Simon Reuben. A part of the PIF conglomerate was in attendance for Oostende’s most up-to-date home defeat.
After relegation, Oostende will clearly want vital backing to succeed in the Belgian high flight once more. PIF officers are reportedly prepared and keen to make the required funding.
Oostende is at the moment owned by the Pacific Media Group (PMG). The USA group acquired the membership solely three years in the past. Additionally they have many different European soccer groups below their umbrella.
These groups embrace Den Bosch, Esbjerg, Kaiserslautern, Nancy, Oostende, Thun, and GKS Tychy. The aforementioned information outlet additionally claims that PMG is probably buying an Austrian crew as effectively.
Further Premier League homeowners need Oostende
Together with Newcastle, different Premier League groups have additionally made tentative enquiries about probably buying Oostende. Wolves and one different English membership are the linked events.
One of many advantages of such a partnership can be the flexibility to mortgage gamers from South America and Africa to the Belgian membership. Brighton and Hove Albion have accomplished this expertly for skills who didn’t qualify for a piece allow.
Tony Bloom owns each the Seagulls and Royale Union Saint-Gilloise. He’s created a pipeline the place gamers signed by Brighton are loaned to Belgium till they qualify.
Oostende might not be Newcastle’s solely possibility both. The Athletic beforehand reported that PIF additionally attended a Normal Liege match just lately as effectively. Normal is among the most profitable golf equipment in Belgium and in addition at the moment have American possession.
Photograph credit score: IMAGO / Sportimage
