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PIF’s stance on selling Newcastle United as long-term plan set to be ripped up
The Saudi Public Investment fund have been frustrated and anchored by the Premier League’s Profit and Sustainability Rules since their takeover of Newcastle United in October 2021.
PIF have been unable to bankroll losses of more than £105m over a rolling three-year period, as is required in the PSR system
And while there can be no doubt that the hundreds of millions they have pumped into Newcastle has transformed the club, they have not yet been able to realise their huge ambitions on Tyneside.
With an increasing focus on commercial income and potentially a lucrative new or improved stadium at St James’ Park, they will have more flexibility in future.
But the obstacles in their way for the time being, as well as their increasing focus on hosting the World Cup in 2034, have led some commentators to suggest that Newcastle are no longer PIF’s priority.
The latest report about the sovereign wealth funds addresses that perception.
- READ MORE: Why Gareth Southgate hardly used Newcastle star Anthony Gordon for England at UEFA Euro 2024
Could PIF sell Newcastle?
According to , Newcastle are in the process of rewriting their long-term plan for the club following the exit of Amanda Staveley, which has heralded a new chapter at St James’ Park.
The report details how PIF remain very hands on in running the club and are set to appoint a new director, Reuben Brothers associate Brad Miller, to the board.
Also detailed is how PIF governor Yasir Al-Rumayyan has sign-off on nearly every executive level decision the club makes.
As for what kind of investment PIF consider Newcastle, sports geopolitics expert Professor Simon Chadwick told iNews: “The smash-and-grab mentality at Paris Saint-Germain or Manchester City is absolutely not the case at Newcastle.
“Just look at the considered development of the commercial team. The people they’ve brought in are experts with strong background in the areas they’ve been appointed in.
“It’s obvious to me that Saudi Arabia acquired an investment asset, not a vanity project. I’ve said for a while now that if there comes a point where they need to sell it they will sell it.”
PIF’s long-term plan at St James’ Park
Ownership regimes plotting an exit route do not tend to be willing to front billions of pounds worth of investment in infrastructure.
As well as the construction of a new stadium, PIF are also plotting the redevelopment of the training ground and have already pumped millions into improving the club’s facilities.
And while the owners likely do not see Newcastle as a capital appreciation project in the traditional sense, the long-term aim is to provide a platform for it to be profitable.
And recent developments regarding the Premier League’s associated party transaction rules suggest that the shackles could soon be somewhat loosened in terms of their ability to spend in the meantime.