The PIF is separate to the Saudi state, they said (legally binding assurances etc)

Yet this, from the Beeb's article on the Fonseca talks:

"Meanwhile, Saudi finance minister Mohammed Al-Jadaan has reacted to 18 Premier League clubs voting to temporarily block teams agreeing lucrative sponsorship deals linked to owners.

Newcastle voted against and Manchester City abstained, with both questioning the legality of the move which prevents the Magpies signing sponsorship deals with companies linked to Saudi Arabia's Public Investment Fund, which owns 80% of the club.

Al-Jaadan told financial television channel CNBC that supporters could expect an "enhanced" club.

"If people are worried about competition amongst clubs, and particularly now we have invested in one of them, possibly it's a good sign that there is a potential serious competitor coming their way, which is good for the whole football community," he said."

Posted By: NxNW, Oct 21, 19:08:59