The club are owned by the Saudi Arabian royal family, through the Saudi Public Investment Fund.
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Per Brazilian reports, the Saudis are now looking at buying Santa Cruz.
The Recife-based club play in the Campeonato Pernambucano, which makes them ideal for a multi-club network.
They would be a team that Newcastle could use to nurture young talent from that part of the world.
The Magpies are hoping to eventually have a similar network to the City Football Group headed by Manchester City’s UAE owners.
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