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October 25, 2021 President Buhari Travels To Saudi Arabia For Investment Summit, Lesser Hajj   

President Buhari Travels To Saudi Arabia For Investment Summit, Lesser Hajj  

President Muhammadu Buhari is set to depart for Riyadh, Saudi Arabia, to participate in the investment conference organized by the Future Investment Initiative Institute.

This was disclosed in a statement by the Senior Special Assistant to the President, Media & Publicity, Garba Shehu.

The three-day event, with the theme, Investment in Humanity, which will host global executives and asset managers, will deliberate on progress and prosperity with energy; true final frontiers in investments; science in action; and impact of climate change on communities among others.

President Buhari will thereafter perform the lesser Hajj in Madina & Makka before returning to the country on Friday.

October 13, 2021 Amnesty International Want Meeting With English Premier League After Newcastle Takeover

Amnesty International Want Meeting With English Premier League After Newcastle Takeover

The Premier League has been urged to meet with Amnesty International after last week's Newcastle takeover by a Saudi Arabia-backed consortium.

Amnesty UK boss Sacha Deshmukh has written to Premier League chief executive Richard Masters requesting a meeting to discuss proposed changes to the English top flight's owners' and directors' test.

A consortium led by Saudi-based Public Investment Fund was given Premier League approval last week to take control of Newcastle, sparking widespread criticism due to the Middle East country's poor human rights record.

Amnesty International described the reported £305m deal as "an extremely bitter blow for human rights defenders".

The Premier League approved Newcastle's takeover after receiving "legally binding assurances" that the Saudi state would not control the club.

The Crown Prince of Saudi Arabia, Mohammed bin Salman, is listed as chair of PIF, but the Premier League was satisfied the state would have no dealings with the club.

 

 

October 8, 2021 Saudi-Backed Newcastle Takeover Completed

Saudi-Backed Newcastle Takeover Completed

A Saudi Arabian-backed £305m takeover of Newcastle United has been completed.

The Premier League has approved the takeover after receiving "legally binding assurances" that the Saudi state would not control the club.

Instead the Public Investment Fund (PIF), which will provide 80% of funds for the deal, is seen as separate to the state.

This is despite the Crown Prince of Saudi Arabia, Mohammed bin Salman, being listed as chair of PIF.

The sale went through after the deal passed the Premier League owners' and directors' test.

The takeover brings to an end Mike Ashley's 14-year spell as Newcastle United owner.

Fans gathered outside Newcastle's St James' Park stadium on Thursday to celebrate the takeover being approved.

PIF have assets of £250bn, making Newcastle one of the richest clubs in the world.

Financier Amanda Staveley, who fronted the consortium, said the new owners are making a "long-term investment" to ensure Newcastle are "regularly competing for major trophies".

Newcastle's last major domestic trophy was the 1955 FA Cup.

May 14, 2021 Anthony Joshua And Tyson Fury To Fight In A ‘Specially-Built Stadium In Saudi Arabia’

Anthony Joshua And Tyson Fury To Fight In A ‘Specially-Built Stadium In Saudi Arabia’

The mouthwatering heavyweight fight between Anthony Joshua and Tyson Fury will take place in a purpose-built stadium in Saudi Arabia, according to Eddie Hearn.

This comes days after the boxing promoter confirmed the fight will take place in Saudi Arabia on August 14.

Hearn has shared more updates on the upcoming fight, revealing that plans are in place for an entirely new venue to stage the fight for the undisputed heavyweight title.

Discussing the venue, Hearn told Sky Sports about the hosts in Saudi Arabia: "They want to build a new stadium. They have indoors options.

"In August at 11pm it will be about 23 degrees.

"They want to create something very, very special. Last time they built a stadium for the Andy Ruiz Jr fight in just seven weeks and it held 18,000.

"This will be a similar set-up.

 

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