Yahoo Sports Big boost for Newcastle as Saudi PIF nears £1bn investment deal
The Saudi Public Investment Fund (PIF), the majority owners of Newcastle United, are reportedly looking to acquire InfraBridge’s 49% stake in Newcastle Airport, according to The Times.
This potential investment underscores the PIF’s broader commitment to Newcastle and its surrounding region, further solidifying its influence beyond football.
Newcastle United’s resurgence under Saudi PIF
Newcastle United’s majority owners, the Saudi Public Investment Fund (PIF), are one of the world’s largest sovereign wealth funds, with assets exceeding $700 billion. Established to diversify Saudi Arabia’s economy away from oil dependence, PIF has strategically invested in various industries globally, including technology, real estate, and sports.
In 2021, the PIF acquired an 80% stake in Newcastle United as part of a consortium, with the goal of transforming the club into a competitive powerhouse.
Under PIF ownership, Newcastle United has witnessed a dramatic transformation, both on and off the pitch. The club has gone from flirting with relegation to becoming a force in the Premier League and European football. Backed by over €450 million in spending across six transfer windows, Newcastle have brought in top talent like Alexander Isak, Bruno Guimarães, and Sven Botman.
This investment has paid dividends, with manager Eddie Howe guiding the team to a fourth-place finish in the Premier League in the 2022/23 season, securing Champions League qualification.
The strict FFP and PSR rules which has not allowed the club to splash the cash and compete with the top rivals which sparked rumours that the owners may consider backing out of the project, but the recent developments suggest otherwise.
Newcastle planning to upgrade the club’s current training facilities
Not only are they buying more land in Newcastle but also making big investments in the city as well as planning to upgrade the club’s current training facilities with a new state-of-the-art training centre.
A recent report confirmed that the Tyneside club are looking to expand Darsley Park and bring it in line with the elite clubs in the Premier League as the Magpies continue to close the gap bit by bit.
For Newcastle United, this latest development will come as a boost as it is a reassuring sign of the owners’ intent to remain fully invested in the club’s future. The potential airport stake acquisition, coupled with ongoing investments in the club and city, reinforces the notion that the Saudi-backed project is far from slowing down.
