Yasir Al-Rumayyan was never shy about his ambitions at Newcastle United. Reports have him telling club executives that the intention was to become “England’s No 1”. The progress has been notable, albeit from the lowest starting point, the apathy and anger of the Mike Ashley era: trophy drought over and Champions League football, twice.

That pursuit of the peak was unsurprising, given Saudi Arabia’s own vast wealth, power and purpose. Newcastle became the richest football club in the world overnight. What the Public Investment Fund (PIF) aims for, it tends to get: clubs, leagues, influence, geopolitical force through sport.

It has been hamstrung by the financial regulations of English football; no doubt. You can believe profitability and sustainability rules (PSR) to be a protectionist ra

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