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This may surprise some, but as it turns out, the Saudi Public Investment Fund may not be entirely on the up-and-up.
Yes, that’s the same PIF that created the LIV Golf Series and recently attempted to acquire a sizable stake in the PGA Tour (a move that is still pending government approval).
Two years ago, the Saudi PIF continued its foray into a sports by purchasing legendary Premier League club Newcastle. Now club chairman Yasir Al Rumayyan, who also heads up LIV Golf, is facing a $74M lawsuit for allegedly “having carried out instructions” of Saudi Crown Prince MBS, with “malicious intent” of “harming, silencing & ultimately destroying” family of Saudi ex-intelligence chief.
🚨 EXCLUSIVE
Newcastle chair Yasir Al Rumayyan faces $74m lawsuit for allegedly “having carried out instructions” of Saudi Crown Prince MBS, with “malicious intent” of “harming, silencing & ultimately destroying” family of Saudi ex-intelligence chiefhttps://t.co/cqgS5eI8y4
— Adam Crafton (@AdamCrafton_) January 16, 2024
Seems bad!
Adam Crafton of The Athletic reports that the suit is on behalf of Saudi Arabia’s former intelligence chief, Dr Saad Aljabri.
“The claim Aljabri hopes to bring against Al-Rumayyan will, if the Canadian court grants permission, allege that defendants including Al-Rumayyan were “directly involved” in a three-and-a-half-year campaign between June 2017 and January 2021 to pursue the family of Saad Aljabri, who is a former top aide to Prince Mohammed bin Nayef,” he writes.”
Aljabri fled Saudi Arabia in 2017. He briefly settled in Turkey before moving to Canada, which is where he has filed suit.
Saudi Arabia filed suit against Aljabri in 2021. Those suits claim that he embezzled hundreds of millions of dollars of state funds intended for counter-terrorism while working at the interior ministry.
The suit against Al Rumayyan, which also include PIF, only raise further questions about the club’s ownership. The English Premier League approved the transfer of ownership to PIF only months after removing Chelsea FC owner Roman Abramovich. Abramovich is a former right-hand man of Russian president Vladimir Putin.
Crafton attempted to reach the Premier League for comment regarding the allegations. But he states that the it declined to comment when asked.