PIF, PCP Capital Partners and RB Sports & Media announce £70m investment

PIF, PCP Capital Partners and RB Sports & Media announce £70m investment - Official statement

by Olly Hawkins · Published 9 November 2022, 13:25

Newcastle United's owners - PIF, PCP Capital Partners and RB Sports & Media - have invested a further £70.4m into the club, taking their total investment to £450m.

In a statement released on the club's official website, our owners have confirmed that the funds will go towards "training facilities, improvements to St James’ Park, investment in playing squad and executives."

The Mail's Craig Hope understands this is not linked to January transfer plans and will instead go on infrastructural costs and the day-to-day running of the football club.

Read the statement in full below, which also features some brilliant words from Darren Eales - who insists this is just the beginning of a "long-term plan" that aims to see us competing "consistently at the highest levels of English and European football."

Official Newcastle United statement via NUFC.co.uk:

‘Additional capital to further finance investment in infrastructure and day-to-day operations

The ownership group, comprising PIF, PCP Capital Partners and RB Sports & Media, has invested a further £70.4 million of equity into Newcastle United FC. This investment brings the ownership group’s investment to date to over £450 million.

The capital injection follows a wide range of investments in the club that has seen an upgrade of training facilities, improvements to St. James’ Park and recruitment of a number of senior executives to build out the commercial operations of the club, as well as investment in the playing squad.

Further investment is expected which reflects the ownership group’s long-term commitments for Newcastle United.

Darren Eales, CEO of Newcastle United, said: “We are at the beginning of a long-term plan that aims to build a club that can compete consistently at the highest levels of English and European football.

“We need to develop the whole business, as well as the playing squad. And we need to do so while adhering to the Financial Fair Play rules. This additional investment further enables us to continue implementing the business plan.”