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Newcastle United are now the richest sports club in the world

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A Saudi Arabian led consortium has completed a £300 million takeover of Newcastle United, 18 months after it was proposed to the Premier League

Saudi Arabia now owns an 80% stake in Newcastle United. David and Simon Reuben, British property developers, and PCP Capital Partners, based in Dubai, each own 10%.

“All parties have agreed the settlement is necessary to end the long uncertainty for fans over the club’s ownership,” a Premier League statement said.

“The Premier League has now received legally binding assurances that the Kingdom of Saudi Arabia will not control Newcastle United Football Club.”

Yasir al-Rumayyan, Governor of the 500 billion USD Saudi Arabian Public Investment Fund (PIF), will be a director, and The Guardian has reported Commerce Minister Majid bin Abdullah al-Qasabi played a key role in securing the takeover.

Amanda Stavely, a British businesswoman and partner in PCP Capital Partners, will also be on the board of directors.

Sacha Deshmukh, Amnesty International UK’s CEO, released a statement saying the takeover must prompt changes to the ownership rules in English football to stop ‘sportswashing’ by foreign governments.

“The closed-door trial of Jamal Khashoggi’s alleged killers was widely perceived to be a part of a wider whitewash by the authorities, and Saudi Arabia is accused of a catalogue of crimes under international humanitarian law during the long-running conflict in Yemen,” Deshmukh said.

“Instead of allowing those implicated in serious human rights violations to walk into English football simply because they have deep pockets, we’ve urged the Premier League to change their owners’ and directors’ test to address human rights issues.”

Hatice Cengiz, the widow of Slain Saudi Arabian journalist Jamal Khashoggi, has called the takeover “horrifying”.

Khashoggi was a fierce critic of the Saudi government and Crown Price Mohammed Bin Salman before his 2018 murder in the Saudi Arabian embassy in Turkey.

Mike Ashley bought Newcastle United for £137 million in 2007 from Freddy Shepherd and Sir John Hall.

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Mysterious drone sightings spark concern in New Jersey

Mysterious drones spotted over New Jersey; officials debate safety and origins, with some citing potential foreign threats.

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Drones of unknown origin have been spotted in New Jersey over the past month, eliciting varying reactions from lawmakers.

The state’s governor insists that the drones are safe, while Congressman Jeff Van Drew suggests they may be part of an Iranian “mothership.”

Recent meetings with Homeland Security officials aimed to address the increasing number of sightings, particularly near military installations and Donald Trump’s golf course.

Drones are lawful in New Jersey but must adhere to local regulations and FAA guidelines.

Reports indicate some of the observed drones are SUV-sized, exceeding typical hobbyist drones.

‘Misidentified planes’

Although there are numerous sightings, officials note that many could be misidentified planes or repeat sightings of the same drone.

Governor Phil Murphy reassured the public that there is no direct threat to safety.

The FBI is gathering information from residents who may have evidence of the drones.

Some officials are advocating for tighter restrictions on drone operations, with one proposing a temporary ban.

Van Drew maintains that there is potential for foreign involvement, despite Pentagon assurances rejecting that possibility.

Legislators have met with DHS and state police to discuss concerns, but clarity on the situation remains limited.

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Trump named Time’s 2024 Person of the Year

Trump named Time’s 2024 Person of the Year, following election win, assassination attempt survival, and felony conviction.

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Donald Trump has been named Time magazine’s Person of the Year for 2024.

This designation follows Trump’s win in the US presidential election and his survival of an assassination attempt, as well as his conviction on 34 counts of falsifying business records.

He is set to be sworn in as the 47th president of the United States on January 20, 2025.

Time’s editor-in-chief, Sam Jacobs, noted that selecting Trump was straightforward, given his significant impact over the past year.

 

Trump expressed gratitude for the honor during a Wall Street event, marking his second selection as Person of the Year, the first being in 2016.

Throughout 2024, Trump experienced notable events, such as the attempted assassination at a Pennsylvania rally, which garnered global media attention.

Additionally, his conviction in May made him the first American president to be labeled a convicted felon, although he has yet to be sentenced.

Upcoming term

After a successful campaign, Trump celebrated his presidential election victory in November, promising to enhance the country during his upcoming term.

With this latest recognition, Trump, who has been featured on Time covers numerous times since his first in 1989, reaffirms his relationship with the publication despite past controversies, including displaying fake covers at his golf clubs.

Trump remains a prominent figure in American politics with his upcoming return to the Oval Office.

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Coalition’s nuclear plan cheaper than Labor’s renewable rollout

Coalition’s nuclear plan to save $263 billion compared to Labor’s renewables, promising cheaper electricity and lower emissions by 2050.

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The Coalition claims its nuclear power plan will save $263 billion compared to Labor’s renewable energy strategy by 2050, resulting in lower electricity costs.

Economic modelling conducted by Frontier Economics estimates the Coalition’s plan, which aims for net zero emissions by 2050, will cost $331 billion.

In contrast, Labor’s renewable energy plan is projected to cost $594 billion according to the modelling.

Opposition Leader Peter Dutton plans to share these findings, stating that the analysis supports their position that Australians will benefit from the Coalition’s approach.

Dutton claims that fewer hidden costs and reduced infrastructure expenses will lead to lower energy prices.

He noted that many advanced economies are increasing their nuclear capabilities and urged Australia to do the same.

Seven plants

The Coalition’s model includes seven nuclear power plants, with renewable energy still providing 54% of the National Electricity Market by 2050 and nuclear contributing 38%.

Labor’s strategy anticipates that 94% of power generation will come from renewable energy by the same year, with 90% of coal-fired power exiting the system by 2034.

However, coal may need to operate longer in the Coalition’s scenario until nuclear power is online.

The Coalition’s plan also suggests a reduced reliance on gas due to a lower number of renewables needing stabilisation.

Dutton committed to constructing and operating seven nuclear plants, with the first expected to be operational as early as 2036.

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