Saudi Arabia’s Public Investment Fund, the current owners of Newcastle United, are reportedly in negotiations to purchase Belgian club KV Oostende. The current ownership group behind the Magpies has been looking to invest in another team for months as part of a global partnership.
The Athletic claims that KV Oostende may be available to buy for around $12.4 million. Whilst currently in the Belgian Pro League, Oostende will be relegated from the top flight at the end of the season.
De Kustboys secured a relegation spot after last week’s defeat to Oud-Heverlee. Oostende has one more league match before their relegation to the Challenger Pro League. They previously spent the last decade in the Belgian top flight.
Majority owners of Newcastle United leading chase for Belgian club
Saudi Arabia’s Public Investment Fund (PIF) was part of a consortium that purchased Newcastle United in 2021 for over $400 million. The Saudi fund, led by Crown Prince Mohammed bin Salman, owns 80% of the North East club. Minority investors in the Magpies include Amanda Staveley, as well as David and Simon Reuben. Part of the PIF conglomerate was in attendance for Oostende’s most recent domestic defeat.
After relegation, Oostende will obviously need significant backing to reach the Belgian top flight again. PIF officials are reportedly ready and willing to make the necessary investment.
Oostende is currently owned by the Pacific Media Group (PMG). The United States organization acquired the club only three years ago. They also have many other European soccer teams under their umbrella.
These teams include Den Bosch, Esbjerg, Kaiserslautern, Nancy, Oostende, Thun, and GKS Tychy. The aforementioned news outlet also claims that PMG is looking at possibly purchasing an Austrian team as well.
Additional Premier League owners want Oostende
Along with Newcastle, other Premier League teams have also made tentative enquiries about potentially purchasing Oostende. Wolves and one other English club are the linked parties.
One of the benefits of such a partnership would be the ability to loan players from South America and Africa to the Belgian club. Brighton and Hove Albion have done this expertly for talents who didn’t qualify for a work permit.
Tony Bloom owns both the Seagulls and Royale Union Saint-Gilloise. He’s created a pipeline where players signed by Brighton are loaned to Belgium until they qualify.
Oostende may not be Newcastle’s only option either. The Athletic previously reported that PIF also attended a Standard Liege match recently as well. Standard is one of the most successful clubs in Belgium and also currently have American ownership.
Photo credit: IMAGO / Sportimage
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Courtesy : https://worldsoccertalk.com/news/newcastle-in-talks-to-buy-belgian-team-kv-oostende-20230422-WST-429709.html