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The Saudi sovereign wealth fund which owns Newcastle has taken majority stakes in four of the Middle Eastern country’s biggest clubs, including Cristiano Ronaldo’s team Al Nassr. The Public Investment Fund (PIF) is taking 75 per cent stakes in Al Nassr, Asian Champions League finalists Al Hilal, Al Ahli and Al Ittihad, who are understood to be interested in signing Karim Benzema after his intention to leave Real Madrid at the end of the season was confirmed. The PIF also own an 80 per cent stake in Newcastle following the completion of a protracted and controversial takeover in October 2021. Sources close to the fund have told the PA news agency that the move to take controlling stakes in the four Saudi clubs does not constitute the creation of a multi-club ownership model involving Newcastle. Each club will be managed by an independent board and have separate executive management, the sources said. Clubs in the Saudi top flight, who have technically been owned by the country’s Ministry of Sport until now, are being privatised as part of a government initiative to help the sport further develop. FIFA has been approached for comment on the issue. A statement on the PIF Twitter account read: “As part of today’s announcement of the Sports Clubs Investment and Privatization Project, four Saudi clubs – Al Ittihad, Al Ahli, Al Nassr, and Al Hilal – have been transformed into companies, each of which is owned by PIF and non-profit foundations for each club.” PIF said existing members of each club would be included in the four foundations and that the fund was working closely with the Ministry of Sport on the necessary regulatory procedures to complete the clubs’ transfers to their new structures as newly-founded companies alongside non-profit foundations. “The transfer of the four clubs will unleash various commercial opportunities, including investment, partnership and sponsorships across numerous sports,” the PIF statement concluded. The Saudi government said in a release from the country’s national press agency issued earlier on Monday that it hoped that as well as further bolstering participation in sport at grassroots level, the move to privatisation would raise the league’s revenues from 450million riyals (£96.7m) last year to 1.8 billion riyals (£386.7m) and increase its market value to more than 8bn riyals (£1.72bn) by 2030. The extent to which the Saudi government controls Newcastle came back into the spotlight in February this year after the publication of court documents in the US. The Premier League approved the PIF-led takeover of the club only after receiving “legally-binding assurances” that the Saudi state would not have control of the club. However, documents from PIF’s legal team published in a court case related to the LIV Golf and PGA Tour dispute described PIF as “a sovereign instrumentality of the Kingdom of Saudi Arabia” and PIF governor and Newcastle chairman Yasir Al-Rumayyan as “a sitting minister of the Saudi government”. The Premier League has declined to comment on whether it had opened an investigation following the publication of the court documents. Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live Andy Murray determined to show he remains among the elite on grass courts Ange Postecoglou: Who is he and what can Tottenham fans expect? Alfie Hewett adapting to his new status as the man to beat in wheelchair tennis

LOS ANGELES--(BUSINESS WIRE)--Oct 30, 2023--

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Ukraine has fired at least 19 “lethal” drones over the Black Sea and the Crimean peninsula, and three more over other bordering regions of Russia, the Russian defence ministry said on Thursday. The Russian anti-aircraft units intercepted and destroyed over a dozen drones in the region, the ministry said on its Telegram channel. “In the night from 20 to 21 September, an attempt by the Kyiv regime to commit a terrorist attack with lethal drones on sites in the Russian Federation was intercepted,” the ministry said. Russian and Crimea-related Telegram channels reported loud explosions overnight. “In Sevastopol, in the area of ​​​​Kazachya and Kamyshovaya bays, it has been very loud for the last hour,” read a post on Telegram channel Crimean Wind, adding that the explosions set off car alarms. “The Ukrainian Armed Forces are massively trying to attack Crimea using drones. According to military officials, at least seven drones have been shot down in just the last 20 minutes. Residents of Evpatoria, Dzhankoy, Balaklava, Sevastopol, Saki, Novofedorovka and other cities report the sounds of air defence,” said Baza, a prominent Telegram account related to Russia’s security services. It added that the locals have termed the overnight attack as the “largest” drone strike of all time. Three drones were downed over Kursk, Belgorod and Orlov in central and southern Russia. Belgorod, just 40km (25 miles) from Ukraine’s war frontline, has been under continued air assault every day this month. The illegally annexed Crimea is also now heavily targeted in the continuing warfare, with sensitive military infrastructure and sites in the region on Kyiv’s radar. The ministry did not mention if there are any immediate casualties or damage. While Ukraine rarely takes responsibility for these attacks on Russia and Russian-controlled territories, it has recounted the strikes with a sense of achievement as it maintains that targeting these regions aids its military counteroffensive. On Wednesday, Ukraine’s defence ministry made a rare triumphant video and confirmed its forces struck a Russian Black Sea fleet command post near Sevastopol in Crimea, a week after the major naval port was set ablaze in a cruise missile attack. Read More Ukraine-Russia war – live: Zelensky says UN ‘incapable’ of stopping Putin’s ‘criminal aggression’ Two-thirds say nuclear weapons make UK safer as support rises to Cold War levels South Korean leader warns Russia against weapons collaboration with the North UN incapable of stopping aggressors like Putin invading other countries, says Zelensky Zelensky tells UN to not make deals with ‘evil’ Russia: ‘Ask Prigozhin whether Putin can be trusted’