Newcastle United‘s owners the Saudi Public Investment Fund (PIF) believe the club is now valued at £2bn and remain “steadfast and committed” with plans to have “spades in the ground” on a new stadium project by 2030.
It has been a summer of change at St James’ Park with three major sales and what insiders admit has been a “hard reset” of approach and recruitment.
That has sparked anxiety about the future ambitions and intentions of PIF but in multiple conversations with sources close to the majority owners The i Paper has learned there is no prospect of a full sale of the club anytime soon.
Instead, the fund – which has invested close to £1bn in the club – have privately pledged that more investment will follow in the coming years.
PIF is understood to see Newcastle, purchased for £350m in 2021 but now worth six times that, as one of the fund’s best recent investments, and at a time when Saudi Arabia is re-assessing priorities and the plug has been pulled on the expensive LIV Golf project, that might be welcome news for supporters.
