Soccer’s latest megadeal is no Ted Lasso-type tale
The takeover of Newcastle United by Saudi Arabia’s sovereign wealth funds continues the push by private capital into professional sports. But it has also raised claims of ‘sportswashing’.
At first glance, there are quite a few similarities between AFC Richmond, the fictional English soccer club at the centre of AppleTV’s hit sitcom Ted Lasso, and Newcastle United, the very real English club that was sold on Thursday night to Saudi Arabia’s sovereign wealth fund for £305 million ($568 million).
Both clubs have a passionate local fan base. Both are run by a woman, with financier Amanda Staveley reportedly getting a 10 per cent stake in the club and the management contract to operate the club day-to-day.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
