Yasir Al-Rumayyan issues four-word Newcastle United message as he reveals new PIF plans..
Newcastle United could soon be able to show the true potential of the Saudi-backed ownership.
The Magpies were released from Mike Ashley’s clutches in October 2021 when a consortium backed by the Saudi Arabian Public Investment Fund (PIF) became the majority stakeholder alongside the Reuben Brothers and PCP Capital Partners, fronted by Amanda Staveley.
Progress has been made both on and off the pitch. Newcastle United’s owners sacked Steve Bruce in the early days of their reign and appointed Eddie Howe who has taken them to the Champions League and two cup finals in his three years at the helm.
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In 2025, Howe is looking to take Newcastle back to European competition and aims to win the club’s first trophy since 1969 when they play in the Carabao Cup final in March.
While the PIF have a huge fortune at their disposal, they have been prevented from spending when the Premier League’s Associated Party Transaction (APT) rules were deemed unlawful by a tribunal.
The APT ruling should benefit Newcastle who could soon sign more cost-effective deals with the PIF. With the PIF in their fourth year of ownership, Yasir Al-Rumayyan has said exactly how he feels about their progress in that time.
Photo by Serena Taylor/Newcastle United via Getty Images
Photo by Serena Taylor/Newcastle United via Getty Images
Yasir Al-Rumayyan on Newcastle ownership
Newcastle chairman Al-Rumayyan has his fingers in many different pies. He is also chairman of companies like LIV Golf and Riyadh Air.
Newcastle play Nottingham Forest on Sunday in what is a huge clash in regards to the top four race – the PIF will have their attention elsewhere.
Al-Rumayyan is flying to Newcastle to attend the game and scrutinise plans for a new stadium before making a final decision. Plans for Newcastle’s new 70,000-seater stadium were unveiled to be just a stone’s throw away from St James’ Park which may help them into an easy decision.
The Newcastle chair has attended games in the past. He was present for the game that saw Howe’s side return to the Champions League and the 2023 Carabao Cup final defeat to Manchester United.
