Newcastle chairman Al-Rumayyan hit with $74 million lawsuit

Newcastle United’s chairman Yasir Al-Rumayyan is facing a possible massive lawsuit in Canada. Along with being a key figure with the Magpies, the Saudi businessman also currently the is governor of the Public Investment Fund (PIF). This is the sovereign wealth fund of Saudi Arabia. PIF previously purchased a majority stake in Newcastle back in late 2021. The conglomerate also created LIV Golf as well.

According to a sprawling report by The Athletic, Al-Rumayyan was sent official legal papers regarding the lawsuit earlier this month. The news outlet claims that the club chairman received the documents at all of PIF’s headquarters. This includes Saudi Arabia, London, New York, and even St James’ Park.

Canadian court handling the suit

The lawsuit, filed in Canada, centers around Al-Rumayyan’s involvement in a campaign against former Saudi Arabian intelligence chief Dr. Saad Aljabri. Al-Rumayyan, under the direct instructions of Saudi’s Crown Prince Mohammed Bin Salman (MBS), allegedly set out to “harm, silence, and ultimately destroy” Aljabri and his family.

The former chief also previously worked closely with Saudi Prince Mohammed bin Nayef. Bin Nayef was the crown prince and first deputy prime minister of Saudi Arabia up until 2017. However, he was overthrown by MBS and has reportedly been in detention for the last few years.

Aljabri fled his home country following the coup of bin Nayef. The former intelligence chief initially traveled to Turkey but has since moved on to Canada. This is why the lawsuit is happening in the North American nation. Saudi state-owned officials have since alleged that Aljabri embezzled millions of dollars before departing Saudi Arabia. Aljabri, however, has denied the allegations.

Aljabri has been hailed in the United States for helping with counterterrorism. The Saudi official previously helped thwart a potential attack by al-Qaeda in 2010. Aljabri provided intelligence on the terrorist organization using possible makeshift bombs inside desktop printers. Officials in England defused the explosives before they could reach the United States.

The report won’t ease concerns about PIF’s takeover of Newcastle

Along with Al-Rumayyan, PIF featured directly in the aforementioned documents as well. This includes PIF board member Mohammed Al Al-Sheik. Assuming the Canadian court allows the case to continue, Aljabri and his family are seeking around $74 million in total damages.

The news will raise more concerns regarding PIF’s purchase of Newcastle. Premier League officials only approved the 2021 deal due to a specific agreement with the Saudi officials. The English top flight allowed PIF to buy the Magpies after PIF agreed that the Kingdom of Saudi Arabia would not control the club.

However, the exact difference between PIF and the Saudi state has been debated ever since the takeover. PIF started in the 1970s to help the Saudi government invest in various activities. It is a large savings account for the nation’s top officials.

Since purchasing the club, Newcastle has recorded a net spending in the transfer market of $450 million. As a result, the club currently has Financial Fair Play (FFP) concerns. Club CEO Darren Eales recently revealed that they may have to soon sell a star player or two to help balance out the books.

PHOTOS: IMAGO