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Saudi Arabia PIF Continues Massive Spending Spree With $518M Investment


CNBC is reporting today that Saudi Arabia’s sovereign wealth fund bought a 5.7% stake in Live Nation, the American events company, which is a parent company to Ticketmaster.

The stake is said to be worth around $518M, and the stock price of Live Nation has risen 10%.

Live Nation is in financial trouble because of the lockdown around the world due to the coronavirus pandemic.

The fact that people must stay in their houses has hit the events industry hard, especially as lots of summer concert tours and the like have been canceled.

CNBC adds in their report about a specific football club called Newcastle United based in Britain:

“The apparent investment spree has even extended to sports — the Saudi fund is currently said to be in the final stages of a deal to take over Britain’s Newcastle United soccer club with an 80% stake worth £300M ($372M).”

We are expecting that deal to but Newcastle to be announced sometime this week, but we also said that the last two Mondays.

But it may just happen this time?

The article also talks about PIF find itself:

“It oversees more than $300 billion in assets and has stakes in numerous major companies ranging from Uber and electric vehicle company Lucid Motors to a $45 billion investment in Softbank’s $100 billion Vision Fund.”

And the vision of Saudi Arabia for the next 10 years:

“The Public Investment Fund is the kingdom’s primary vehicle for expanding its domestic and international investments and is a key part of Saudi Crown Prince Mohammed bin Salman’s “Vision 2030″, which is aimed at diversifying the country’s economy away from oil reliance.”

What do you think?

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Comments welcome.


47 comments so far

  • magscar

    May 11, 2020 at 3:09 PM

    Comment #1

    Bus moved

    magscar

    May 11, 2020 at 3:06 PM
    Comment #58

    hibbit

    Cheers you are correct but I also have close family members (other than my niece) very much affected in their working lives by this and this has become an increasing worry and they and we are going to be affected by the release from lockdown and it has to be done right and with proper direction and guidance

    I am well aware that I am in a minority on here for my political views ( as I often find on my football take) but do try to keep my views off here and mostly succeed

    Posters going on and on about Ashley Pardew Bruce etc ( and even leaving Europe) I can overlook most of time but this really is the biggest crisis in all our lives and shouldn’t be along political lines it is more important than that but is becoming so whether i like it or not.

    I should be relishing the takeover but after 9 weeks of lockdown ( for us) and no sign it will lifted at all i am too consumed with the real world to get as excited as I always thought I would. May be on the day?

    ?

    4
  • Budge123

    May 11, 2020 at 3:10 PM

    Comment #2

    Stay Alert – your country needs Lerts

    Stay Alert – what’s a Lert

    6
  • geordietom

    May 11, 2020 at 3:10 PM

    Comment #3

    ” STAY ALERT” ok the only alert i’m waiting on at this moment is about the takeover …

    i’m still confident about the the takeover of our club happening …

    3
  • ChicoUSA

    May 11, 2020 at 3:12 PM

    Comment #4

    Repost

    Bill Son Is Back re: video you posted 2 blog buses ago…

    That video made by the 2 doctors from Bakersfield California has been fact checked and proven to be full of incorrect statistical assumptions. It helps to fact check statements or ideas posted on the internet…

    https://www.thestreet.com/mishtalk/economics/fully-open-up-society-now-really

    2
  • Zele

    May 11, 2020 at 3:13 PM

    Comment #5

    With the latest announcement it looks like the current season has ended as I cannot see the league starting up after the 1st June especially as there are new outbreaks of the virus in countries.

    Still a long way to go before it’s safe.

    8
  • geordiesteve520

    May 11, 2020 at 3:14 PM

    Comment #6

    Were there any objections to this? Were people up in arms about ‘entertainment washing’ and using live concerts in Saudi Arabia as a way of erasing their human rights record. No, it just went through…

    6
  • Hal

    May 11, 2020 at 3:15 PM

    Comment #7

    Does this mean big name gigs at St James Park.

    2
  • Jail for Ashley

    May 11, 2020 at 3:15 PM

    Comment #8

    chico,
    Did you get my post this morning

    1
  • BlacknWhiteBarmy

    May 11, 2020 at 3:16 PM

    Comment #9

    Im guessing AI and keys wont be going to any gigs then

    1
  • Hal

    May 11, 2020 at 3:17 PM

    Comment #10

    Zele I don’t think the PL were looking to start till about the 15th June anyway.

    0
  • ChicoUSA

    May 11, 2020 at 3:17 PM

    Comment #11

    Jail
    Yes. Hope you do get a chance to read Taiko, one of my favorite books of all time!

    0
  • Zele

    May 11, 2020 at 3:17 PM

    Comment #12

    Hal,

    I think the nearest to a gig at St James Park will be the groundsman humming along as he mows the pitch.

    3
  • geordietom

    May 11, 2020 at 3:20 PM

    Comment #13

    budge …
    What does Lert stand for?
    Acronym. Definition. LERT. Lutheran Early Response Team (various locations) LERT.

    0
  • Jail for Ashley

    May 11, 2020 at 3:22 PM

    Comment #14

    Chico,
    Wow, that’s a bold statement, I’ll double my efforts to get a hold of it now.
    Have you read James Clavell’s Shogun, one of my favourite books of all time.

    3
  • Zele

    May 11, 2020 at 3:24 PM

    Comment #15

    Hal,

    I just cannot see professional sport taking place whilst hundreds still die each day and with a vaccine still far away with new outbreaks happening all the time elsewhere in the world (second wave ?).

    I think the 2020 / 2021 season is 50 / 50 certainly where crowds are concerned.

    3
  • cleveleysbob

    May 11, 2020 at 3:25 PM

    Comment #17

    Repost, bus missed,

    Magscar, I’m aware of your personal involvement with this crisis, and I’m 100% behind you, I truly am. My wife and I are in the “vulnerable” category although thankfully not the “seriously vulnerable” group. We haven’t seen any Family members or friends for almost 8 weeks now except on “FaceTime”. We can go out for exercise, but can’t go shopping, using a combination of on line and kind neighbours to get by. We’ll be living like this until there is a vaccine, so we expect 2021 sometime.

    The whole politics thing is unfortunate, and I rather it didn’t happen, but a few others on here wound me up this morning, which is a lot easier to do while I’m virtually quarantined.

    I keep trying to stick to football, honest!! Chin up we’ll all get through this eventually.

    0
  • Zele

    May 11, 2020 at 3:25 PM

    Comment #18

    Jail,

    Based on the life of William Adams the first Englishman to reach Japan.

    1
  • Anglo Saxon

    May 11, 2020 at 3:26 PM

    Comment #19

    Jail, Taiko Amazon kindle £11.10 or hardback £38.

    1
  • Jail for Ashley

    May 11, 2020 at 3:27 PM

    Comment #20

    Zele,
    Indeed, has a memorial plaque in Hiroshima

    1
  • lesh

    May 11, 2020 at 3:27 PM

    Comment #21

    Magscar

    Rest assured you’re not alone in your concerns about the way things have been and are being managed when Covid is such a massive threat to lives and the country.

    However, it seems that those who don’t blindly accept, question what’s being said are shouted down as loony lefties or plain thick.

    Be strong young fella, good’ll follow you and your family.

    5
  • ChicoUSA

    May 11, 2020 at 3:28 PM

    Comment #22

    Jail,
    Yep, read it twice! Taiko is a historical novel and focuses more on Hideyoshi (the Taiko who unified Japan), prior to the first Shogun, covered in Clavell’s fictional novel. If you loved Shogun you will also love Taiko.

    0
  • hibbit

    May 11, 2020 at 3:28 PM

    Comment #23

    magscar we’re all in the same boat mate, my eldest lives 200 miles away not seen seen him or the grandson for 8 weeks, nephew works front line in the RVI we’re all worried it really is difficult for us all at the moment,
    and i agree with you the press aren’t helping anyone but them self’s they want people back on the streets to buy the newspapers there not selling at the moment as they become more and more irrelevant

    3
  • lesh

    May 11, 2020 at 3:29 PM

    Comment #24

    And

    Magscar, Chico

    Here’s a clip of some owld phart making good use of their lockdown. A lesson in how to avoid cabin fever.

    Enjoy

    https://youtu.be/4ZLY2ht9iBM

    3
  • Jail for Ashley

    May 11, 2020 at 3:30 PM

    Comment #25

    Zele,
    Sorry, Nagasaki.

    0
  • Zele

    May 11, 2020 at 3:31 PM

    Comment #26

    Jail,

    I forgive you.

    0
  • lesh

    May 11, 2020 at 3:31 PM

    Comment #27

    Hibbit

    Having read your recent post, mine @22 can equally be addressed to you.

    Be strong and be safe

    0
  • Hal

    May 11, 2020 at 3:32 PM

    Comment #28

    I’ll have to have a read of that Jail.

    0
  • Zele

    May 11, 2020 at 3:35 PM

    Comment #29

    Hal,

    Giles Milton’s ‘Samurai William’ tells the true story of William Adams.

    1
  • Jail for Ashley

    May 11, 2020 at 3:35 PM

    Comment #30

    Hal,
    Excellent book, I too have read it twice and listened to the audible which is also excellent.

    0
  • ChicoUSA

    May 11, 2020 at 3:39 PM

    Comment #31

    lesh @24

    Black Water….oh yeah!!!

    1
  • the Northumbrian

    May 11, 2020 at 3:40 PM

    Comment #32

    Can’t Wait to see my 86 yr old mum albeit from 2 m away, its been awful knowing she’s been alone for all this time.
    On another note man city bought another footie club today,
    Anyone hear the uproar?

    3
  • Hal

    May 11, 2020 at 3:41 PM

    Comment #33

    Thanks just grabbed that on my kindle.. Give that a read later.

    1
  • Hal

    May 11, 2020 at 3:43 PM

    Comment #34

    Did they buy that French club Northumbrian?

    0
  • lesh

    May 11, 2020 at 3:44 PM

    Comment #35

    Chico

    Thought you might like the Doobies’ little gathering.

    I enjoyed the kid signing off at the end. It’s as though he was saying ‘ig’s a wrap’

    1
  • the Northumbrian

    May 11, 2020 at 3:45 PM

    Comment #36

    Hal for what I can gather I think its a second division Belgian club

    0
  • Ashingtoon62

    May 11, 2020 at 3:45 PM

    Comment #37

    Repost I agree that people shouldn’t be confused at all.
    They should be up in footing arms for gods sake.Our “leader” comes out (in true Trampesque fashion) and tells us to be alert,against an invisible killer.
    The Japanese clearly missed a trick in WW2…

    3
  • lesh

    May 11, 2020 at 3:46 PM

    Comment #38

    @35 * ‘it’s a wrap’

    0
  • Jib

    May 11, 2020 at 3:48 PM

    Comment #39

    Man City have acquired Lommel SK of Belgian 2nd division.

    0
  • the Northumbrian

    May 11, 2020 at 3:52 PM

    Comment #40

    Thanks jib saves me searching for it

    1


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