It has been revealed that the Saudis have “seriously considered” launching a bid for Winter Wonderland – providing the latest evidence of their interest in acquiring iconic UK assets.
Investors linked to the desert kingdom have been on a buying spree in Britain in recent decades and now hold stakes in a number of famous institutions, most notably Newcastle United FC.
Selfridges joined the growing ranks of Saudi assets this week after the country's sovereign wealth fund, the Saudi Public Investment Fund (PIF), announced it had purchased a 40% stake in the iconic department store.
And now it has emerged that Newcastle shirt sponsor Sela – who, like the club itself, is owned by PIF – was involved in negotiations to acquire Winter Wonderland, the annual festival which attracts 2.5 million visitors a year to Hyde Park, in London.
The Saudi events company participated in a tender process and held discussions with the event's founders, the Royal Parks of London, Craig Hope revealed exclusively in his Newcastle Confidential column for Mail+.
Saudi Arabia's PIF was 'seriously interested' in buying Hyde Park's Winter Wonderland festival, it emerged today
Yasir Al-Rumayyan is governor of the Saudi Public Investment Fund (PIF) and chairman of Newcastle United
Sela is said to be “seriously interested” in taking over management of the festival – which is one of the most important events on the British festive calendar – but has now decided to focus on other ventures.
The company still considers the UK to be one of its main markets and intends to invest in and manage prestigious live events with high traffic and high profile venues.
PIF's UK portfolio currently includes stakes in Heathrow Airport and London-based hotel group Rocco Forte.
Its investment in Selfridges was announced in a statement released on Tuesday by the fund's deputy governor, Turqi Al-Nowaiser.
“We are pleased to partner with Central Group on Selfridges Group, one of Europe’s most iconic luxury department stores,” he said.
“This transaction allows Selfridges Group to build on its position as a premier retail destination.”
Tos Chirathivat, Executive Chairman and CEO of Central Group, said: “We are delighted to welcome our new partner PIF and together we will immensely strengthen the financial position of the Selfridges Group.
«The group is ready to embark on a new chapter of development and growth supported by the shared long-term vision of its shareholders.
“PIF is Central’s partner of choice in this distinguished enterprise, and we are confident that PIF’s proven global investment track record, combined with our luxury retail industry experience, brand management skills and innovative approach, will enable the Selfridges Group continues to flourish for the benefit of all its stakeholders.'
PIF this week announced a new 40 percent stake in department store Selfridges
Newcastle fans wearing headdresses after Saudi takeover
PIF intervened after Austrian property conglomerate Signa, which has co-owned Selfridges with Central since 2021, collapsed and fell into insolvency.
The beleaguered company owned a wide portfolio of stores including Arnotts and Brown Thomas in Ireland.
The PIF is well known for its interest in sport, particularly through LIV golf and the Saudi Pro League in football, but this year failed in its attempt to get involved in British tennis by sponsoring Queen's and Eastbourne.
The Lawn Tennis Association (LTA), the national governing body for tennis in Britain, the Channel Islands and the Isle of Man, said it had categorically rejected the offer.
“We declined to participate in this sponsorship proposal presented to us by the ATP and PIF,” said a spokesperson.
Earlier this month there was controversy over the decision to play the Saudi national anthem at Wembley, before Anthony Joshua's defeat to Daniel Dubois.
Turki Alalshikh, a member of the Saudi royal court, was instrumental in organizing the much-anticipated heavyweight fight on Saturday night.
The two British stars faced off at Wembley Stadium in front of a record 98,000 fans as part of the first Riyadh card of the season to be held in the UK.
Dubois retained his IBF heavyweight title by knocking out Joshua in the fifth round of a sensational affair under the Wembley arches.
Fans thoroughly enjoyed the event, but expressed their surprise at the decision to play the Saudi Arabian national anthem before the first bell.
Many believed that the English national anthem, which followed the Saudi anthem, would have been more appropriate to be played first.
One fan took to social media to write: 'How do you sing Saudi Arabia's national anthem BEFORE the host country – and both fighters' anthems.'
PIF is ultimately controlled by Crown Prince Mohammed bin Salman
PIF has stakes in a number of important UK assets, including Heathrow Airport
Another added: “Can someone explain to me why the Saudi national anthem was played before the British national anthem in the British national stadium, with two British citizens fighting in front of a British crowd just by asking.”
While one wrote: 'No disrespect or anything but why is the Saudi anthem played before the British anthem when it's two British boxers fighting? It certainly should have been the other way around.
However, boxing promoter Eddie Hearn hit back and said he would play the Saudi anthem at every fight if the country that funds the sport asked him to.
Hearn said that for the money Alalshikh invested in the sport, he was more than entitled to have the anthem played as a “mark of respect.”
“He gave British boxing – all the fighters, all the fans – the best night, he paid for everything,” Hearn told iFL TV.
'I couldn't have organized that event, (rival promoter) Frank Warren couldn't have organized that event.
'It's a sign of respect for the work that went into creating this event – and for 20 seconds, is that a big deal?'
