Who is Mohammed bin Salman? Net worth of Saudi crown prince linked with Newcastle United takeover

Newcastle United’s takeover by the Saudi Arabia backed PCP Consortium has been confirmed

Newcastle United’s takeover by the Saudi Arabia backed PCP Consortium has now been announced.

The group is understood to be paying £300m for the Premier League club and that figure is made up of a 10%-10%-80% split between three parties.

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Those parties are business woman Amanda Staveley’s of PCP Capital Partners, the Reuben brothers - who were last year named as the second richest family in the UK, and the Public Investment Fund (PIF) of Saudi Arabia.

The PIF, headed by Saudi Arabia’s crown prince Mohammed bin Salman, will have the controlling stake in the club.

For all the latest on the NUFC takeover, head over to our sister title NewcastleWorld.com and follow Liam Kennedy’s coverage on Twitter at @newcastle_world and @LiamJKennedy23

Here is everything you need to know about Newcastle United’s potential new owners...

Who is crown prince Mohammed bin Salman of Saudi Arabia?

Mohammed bin Salman has been the Crown Prince of Saudi Arabia since June 21, 2017 and also serves as the country's deputy prime minister, Chairman of the Council for Economic and Development Affairs, Chairman of the Council of Political and Security Affairs, and Minister of Defense.

Mohammed bin Salman, 36, controls the government of his father, King Salman bin Abdulaziz.

Russia's President Vladimir Putin (R) gestures toward Saudi Arabia's Crown Prince Mohammed bin Salman during a meeting on the sidelines of the G20 Summit in Osaka on June 29, 2019

What is Mohammed bin Salman’s net worth?

The Public Investment Fund has an AUM (Assets Under Management) worth $500 billion (USD) and is chaired by Mohammed bin Salman.

It is governed by Yasir bin Othman Al-Rumayyan, a Saudi businessman who is also chairman of Saudi Aramco, officially the Saudi Arabian Oil Company.

Mohammed bin Salman’s father, Salman bin Abdulaziz Al Saud the King of Saudi Arabia, ranks are the third richest royal in the world with a reported net worth of $18 billion (USD).

The Saudi royal family are behind only Hassanal Bolkiah the Sultan of Brunei and Vajiralongkorn King of Thailand.

The Public Investment Fund has an AUM (Assets Under Management) worth $500 billion (USD) and is chaired by Mohammed bin Salman.

What is the Public Investment Fund (PIF) of Saudi Arabia?

The PIF is the sovereign wealth fund of Saudi Arabia and is among the largest sovereign wealth funds in the world with total estimated assets of at least $500 billion.

Created in 1971, it’s purpose is to invest funds on behalf of the government of Saudi Arabia.

The deal to takeover Newcastle United was only made possible once assurances had been provided to the Premier League that the Saudi state would not be involved in the day-to-day running of the football club. something that had been the most significant reason as to the initial takeover proposal being rejected in 2020.

What is the Premier League’s owners’ and directors’ test?

The Premier League Owners’ and Directors’ Test, which prevented the previous takeover bid in 2020 going through, “outlines requirements that would prohibit an individual from becoming an owner or director of a club” according to the Premier League’s official website.

It continues, “These include criminal convictions for a wide range of offences, a ban by a sporting or professional body, or breaches of certain key football regulations, such as match-fixing.

“The test is applied to prospective owners and directors, who are then subject to a review on a seasonal basis. You can read the criteria of the Test in full at Section F of the Premier League Handbook.”

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