A report claims that at least one Premier League team and championship teams are attempting to get Saudi billionaire Turki Alalshikh to invest.
According to journalist Kaveh Solhekol of Sky Sports, teams are looking to Saudi Arabia in an attempt to make a lot of money and be promoted to the Premier League. With an estimated net worth of $2.8 billion, Alalshikh has a variety of commercial ventures and has revolutionized boxing by staging a lot of amazing performances around the Middle East.
He is now the most powerful individual in the sport and has also brought Ring Magazine back to life. Although he hasn’t made any investments in English football yet, Solhekol claims that certain teams are vying for his attention.
“At least one Premier League club and sever championship clubs have reached out to Saudi billionaire Turki Alalshikh for investment,” Solhekol stated.
“Despite having a broad variety of economic interests, the chairman of Saudi Arabia’s General Entertainment Authority has never made an investment in English football.
“With more Championship clubs trying to entice Saudi investors to help them gain promotion to the Premier League, that could be about to change.
“After hosting some of the largest boxing matches, Alalshikh has emerged as one of the sport’s most significant powerbrokers.
“He also controlled the Spanish team Almeria until last week. In the summer of 2019, he paid £20 million for them. Last Friday, the Saudi investment company SMC acquired ownership of the club.
Derby County is one of many Championship clubs available for investment. David Clowes, the owner, is willing to sell 80% of his stock.
Aside from the fact that losses are capped at £39 million over a rolling three-year period, as opposed to £105 million in the Premier League, other clubs are hoping to draw in the kind of money that will enable them to compete with the teams that were demoted from the league, which enjoy the benefit of millions in parachute payments.
According to this month’s Sunday Times Rich List, the Coates family, who have controlled Stoke City since 2006, are said to be worth £9 billion. John Coates is now the only owner, although his father Peter is a director and his brother-in-law Richard Smith is vice-chairman.
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