Newcastle shirt sponsor is latest Saudi investment in global sports

NEWCASTLE, England (AP) — Newcastle announced a shirt sponsor deal Friday with a Saudi Arabian company linked to the sovereign wealth fund that is the English soccer club’s majority owner. The Public Investment Fund also is the new investor in golf’s PGA Tour. British media reported Newcastle’s sponsorship by events management firm Sela is worth $31.5 million annually. Newcastle will play in the Champions League group stage next season for the first time in 20 years. It placed fourth in the Premier League in first full season since a $377 million takeover by PIF.