Riyadh – Sharikat Mubasher: Saudi Arabia’s Public Investment Fund (PIF) expressed its interest in buying a new Hundred franchise based in Durham.

The sovereign wealth fund, which already owns Premier League outfit Newcastle United, is said to be contemplating its first cricket investment and a sale could take place very soon, according to a report by The Times Newspaper.

 This would represent its latest sports-focused purchase in the north-east of England, with PIF said to be focused on making further investments in the region.

While the Saudis are said to prefer buying a larger stake in the team than the 49 percent of shares on offer, this preference is considered unlikely to pose an issue for any deal.

The Saudis’ interest in investing in the north-east of England can be considered similar to how Abu Dhabi’s sovereign wealth fund, the owners of Manchester City, has invested widely in local communities surrounding the Etihad Stadium. As well as owning Newcastle United, PIF has reportedly held talks with four Premiership Rugby clubs over proposed seven-figure investments, with one team being Newcastle Falcons.