Monday, November 25, 2024

Saudi Arabia in talks to buy Qatar broadcaster BeIN Sport after Newcastle takeover deal

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Saudi Arabia is eagerly pursuing major investment at Premier League rights-holder BeIN Sports as part of on-off talks which began immediately after the Newcastle United takeover.

A geopolitical grudge match between Saudi and neighbouring Qatar was a major factor in the league insisting on “legally-binding assurances” of no state interference at Newcastle.

BeIN, which owns the league’s TV rights for the Middle East and Africa region, had initially protested over the takeover, citing Saudi involvement in one of the world’s biggest sporting piracy cons.

However, just 24 hours before the deal was waved through on October 7 2021, Riyadh-based piracy outfit beOutQ, which had been repackaging BeIN’s feed as its own, suddenly came off air.

The Telegraph – which this week published a cache of WhatsApp messages casting new light on the deal – understands a private agreement was struck at the time to allow takeover talks to begin between Saudi and Qatar-owned BeIN.

Negotiations have been described as “on-off” since then by insiders, complicated by a BeIN streaming service being taken off air in Saudi during World Cup 2022.

‘Saudis trying to buy the one thing they don’t have’

However, the prospect of an initial minority investment deal for Saudi now looks more likely than ever as discussions progress with the Doha-based group chaired by the powerful PSG president Nasser Al-Khelaifi.

Tensions between BeIN and Saudi trace back to the Arab Spring and a former subsidiary, Al Jazeera, coming under attack in Riyadh.

However, business is booming for BeIN amid the rising popularity of some of its rights packages in the region, coinciding with unprecedented levels of investment in the sporting sector by Saudi. 

“Ever since the takeover went through, the Saudis have been trying to buy the one thing they don’t have – a global media group, and especially one that’s the leader in their region,” said one industry source.

In recent years, BeIN has renewed long-term deals with the Premier League, Uefa, Wimbledon, the NBA and has secured a 10-year deal with Formula One. 

Discussions have been ongoing about Saudi buying a stake in BeIN even since the takeover was allowed through.

The £305 million Newcastle purchase in 2021 took a bruising 18 months to ratify, with BeIN repeatedly writing to the league to express concern.

For the league, there was no rule explicitly barring state ownership, and human rights concerns as a disqualifying factor have only since been introduced.

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