Concerns raised over Newcastle's £30m transfer of Allan Saint-Maximin to Al Ahli, alleging the fee is inflated by the clubs' shared Saudi ownership.
A proposed £30 million (€34 million/$38 million) transfer of the French winger from Newcastle United to Saudi Pro League side Al Ahli has come under scrutiny as several English Premier League teams plan to raise concerns with the league, according to The Athletic. The transfer involves two clubs, Newcastle and Al Ahli, which share majority ownership under Saudi Arabia's Public Investment Fund (PIF).
According to Premier League regulations, all transactions above £1 million are subject to scrutiny to ensure they do not exceed 'market value.' However, some English top-flight teams allege that the shared PIF ownership is being used to inflate Saint-Maximin's transfer fee and, in reality, it is a means to inject capital into Newcastle United while appearing as a legitimate transfer payment. The clubs are seeking more transparency and scrutiny around how the league establishes market value in such cases.
Newcastle's valuation of the 26-year-old is in line with the proposed transfer fee, and the club remains comfortable with the valuation. The club underwent a takeover in October 2021, with the Premier League approving it under the condition that the Saudi state would not control the club. The ownership structure now includes PIF with an 80% stake in Newcastle, while Amanda Staveley's PCP Capital Partners and the Reuben family hold 10% each.
PIF's recent acquisition of a 75% stake in four founding members of the Saudi Pro League, including Al Ahli, has led to high-profile players from Europe, such as Karim Benzema, Roberto Firmino, and Chelsea's trio of Edouard Mendy, Kalidou Koulibaly, and N'Golo Kante, joining the league. While some players secured free transfers, others were involved in significant transfer deals to Saudi Arabia.
Amidst the transfer talks, Saint-Maximin was absent from the Newcastle squad for a friendly match against Rangers, with head coach Eddie Howe confirming the ongoing discussions about the player's potential exit. Howe mentioned that Financial Fair Play (FFP) rules compelled the club to consider player trades, leading to the possibility of Saint-Maximin's departure.
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