That our Saudi headchopping owners are helping Chelsea financially?
No red flags there, no?
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That our Saudi headchopping owners are helping Chelsea financially?
No red flags there, no?
i honestly don't know how it all works.
To a degree but it could be argued that it sets precedents, so when/if they start doing stuff with us it's alot easier to put up a defence to the invietable howls of protest.
Not at all.
By far the richest of our owners are the Saudi Public Investment Fund. As I understand it, the PIF was basically set up to establish financial security for the Kingdom of Saudi Arabia in the face of declining oil revenues.
As I see it, all this "richest club in the world" is complete *******s. (to remove any doubt, the asterisks replaced the letters B, L, C, K amongst others)
Not just because of FFP. But also because we are a very, very small cog in the PIF machine.
I think it's no accident that it's called the public INVESTMENT fund. They are not just "mega rich Arabs" willing to throw money away on a vanity project.
A return is expected on any investment, and short or long term is fine..
This is also why I think that "sportswashing" is probably also complete *******s.
I may be wrong, but that idea doesn't sit well with my view of the Saudis.
I only spent 3 years in Saudi, and it was a long time ago - the early 1970s.
They were, shall we say, a very confident people and culture. Some would say arrogant and I couldn't disagree. I thought this stemmed from two things. Firstly, their position as the centre of Islam. Having the holy cities of Mecca, the birthplace of Mohammed, and Medina where he established the Prophets Mosque and where he is buried. Secondly, their wealth as a very oil-rich nation.
One thing they were not is stupid. Even in the early 1970s they were trying to diversify. My involved was in a fisheries development programme. Most other Westerners I met were either in military or oil, so primary wealth and defence was obviously their main focus!. My impression of most Saudis then was that they tolerated us. We were, quite literally "infidels". Non-believers. Merely inferior people with skills which they could easily buy thanks to the oil.
Not everyone was like this, I made some good friends, but that was the overall theme.
So, I do not believe they have changed much - even though it was a long time ago. the attitude was so deep, so intrenched, it would take generations to change I suspect. I reckon that the Saudis of the 1970s would have hugely laughed at the concept of "sportswashing" as they genuinely could not have given a rat's arse what anyone thought of them, except other Arabs (and probably only other Saudis).
Things may have altered a bit. Ragatino will let us know, no doubt.
So, for me NUFC is a tiny part of the PIF project. But an important one nonetheless. I suspect that they see a club with enormous financial potential, and are very happy to invest in it. I reckon that they will put people in charge, leave them to get on with it, and only remove them if there is a very obvious shortfall in perfomance and results.
Anyway, that's clearly enough beer for me tonight - especially at my age!!
Quote:
Originally Posted by OwdBillCook
Hi Bill, you're experience is pretty much bang on. Their exposure to Westerns in the country has mellowed their opinions somewhat.
They respect the professionals a lot more but in terms of 'Not giving a S**t about peoples opinions'. People have to realise, it's like the British with our Imperial pride. They are the Kings of Arabia. Their wealth is beyond anyone wildest imagination.
NUFC is a long term asset. The PIF's overall focus on NUFC is probably 5%. Aramco is the worlds BIGGEST company, Forget Apple or Google. NUFC is one of hundreds of investments. They just bought Heathrow Airport.
MBS bought a painting for $350million - they paid £305million for Newcastle United.
Let that sink in.
However, the one thing Saudi's don't like is being 2nd or less. They will make NUFC challenge Man City for Premier League Dominance & challenge the Euro Elite for the Champions League title on a frequent basis.
Due to the financial restrictions it will take some time, however, everyone needs to rest assured that it will, without doubt, happen.
Those last two posts by Bill ( can't call you oldbill, as I'm the oldest Bill on here ;D) and Rags are encouraging to read, especially as both have historical connections and insider knowledge.
My "insider knowledge" is 50 years old, mind!!
Aye - good posts both.
That's quite sumit on the painting cost comparative to Toon Rag :O
Not really. We are a small.cog, theres bound to be a beneficial angle we don't see on the face of it Above my pay grade.Quote:
Originally Posted by PhoneymcRingRing