Kieran Maguire slams PIF ‘inconsistency’ at Newcastle United after court controversy
Newcastle United could “tie themselves up in knots” unless their owners decide whether the PIF is linked to the Saudi Arabia regime or not.
That is the opinion of finance expert Kieran Maguire, who spoke exclusively to Football Insider about the contrasting claims from the PIF and their relation to the Saudi Arabian government.
Newcastle were taken over for £300million by the Saudi Arabia-backed PIF last year, and the ownership group claimed that the Saudi regime had no direct control over the Premier League club.
However, the PIF also own the new breakaway LIV Golf series, and in a legal battle against the PGA Tour, they claimed sovereign immunity due to their close relations with the Saudi regime.
The judge involved in that legal case ruled that PIF are not entitled to sovereign immunity.
Maguire insists the PIF need to “immediately” decide their stance on this topic to avoid it being used against them in future legal battles.
“There does appear to be an element of inconsistency in terms of the PIF’s claims in the US Court,” Maguire told Football Insider.
“They claim to be part of the Saudi Arabia government and therefore entitled to immunity.
“But when it comes to owning Newcastle United they claim they are independent of the Saudi regime.
“Going forwards, the PIF have to be careful not to tie themselves up in knots as this could be exploited by lawyers to prove a point on one side or the other.
“It would make sense from a PIF viewpoint to decide on one stance and stick to it immediately.“
In other news, critical update on £300m talks as Newcastle United details emerge