[Read the full piece for free with the above link] Getting anything on the record from PIF, beyond managed public briefings such as the one Yasir Al-Rumayyan, governor and Newcastle’s chairman, gave on Wednesday in the Middle East, has always been extremely difficult.
But those familiar with their thinking are adamant that despite the reassignment of investments, Newcastle United will be unaffected. PIF’s 203 companies are being split into three separate pods: Vision 2030 (which is their domestic portfolio), “financial”, and “strategic”.
Newcastle, it is claimed, fall into the final category. The insistence is that funding committed to the club is not expected to be scaled back, nor increased, but will remain at similar levels to before.
When it comes to the prospective sale of Al Hilal, the message over the past year has been that there is no correlation between what happens with the four PIF-owned Saudi Pro League (SPL) clubs and Newcastle.
The claim is that the SPL clubs were bought for different reasons and that the intention was always to sell them at some stage, whereas Newcastle was purchased as a long-term investment. An eventual sale was part of that plan, but not at this point.
PIF regards Newcastle as a successful purchase so far, according to those familiar with their thinking, and is not looking to offload the club in the short-to-medium term.
by TheAthletic
8 Comments
It means fuck all.
LIV Golf is failing because the big name players have taken the money and went home, and the golf authorities are refusing to give it and their players accreditation despite saying they would.
No one is talking about how the Saudi’s are creating a new Tennis tournament, or are still big players in both boxing, and WWE, as well as leaning into E-sports as well.
Negative news travels faster than good news.
Anyone who is giving Conor fucking Benn 15 million quid for a single fight aren’t exactly running out of money. I think we’ll be alreet
It would make sense for Saudi to want their league to be involved in other leagues.
It means fuck all, but ideally they’d sell
LIV Golf haemorrhages money, so much so that even PIF in all their wealth have decided it is too much of a headache and want it off their hands.
You don’t throw away a good thing. We were acquired for £400m, and we’re now currently worth something along the lines of £1.3bn-£1.6bn, and we’re only going to increase in value. We are a perfect investment.
Are they even investing in us? Aren’t we basically stuck with what we bring in through sales and sponsors, etc?
Not sure what money they put in now.
It doesn’t mean anything. 2 totally different situations. Move on
Of course it’s not a free to read and again the athletic posting rage bait.