Saudi PIF planning £1billion investment in Newcastle - Report
A lot has been said about Newcastle United’s ownership and with the club continuing to struggle to compete financially with other clubs, some have suggested that the Saudi-backed PIF could become frustrated and abandon their project.
Those at the top of the club have given no indication that they may be leaving any time soon, but with the club going through a bit of a tricky spell in the last few weeks people have, of course, been coming to their own conclusions.
However, some recent developments regarding the PIF suggest that Newcastle fans have nothing to fear and they will be hoping to finally flex their financial power in the coming windows.
PIF to make new sizeable investment in Newcastle
According to The Times, PIF are now looking to buy InfraBridge’s 49% stake in Newcastle Airport, suggesting they aren’t looking to leave the football club or stop investing in the area any time soon.
There’s no confirmation of this just yet, but it does indeed sound promising from a supporters perspective - why continue to invest in the area if you are planning to pull out of the main attraction?
It’s believed that they will be purchasing the 49% stake for a massive £1billion, although when you’re worth over £700billion it probably feels like a drop in the ocean.
Positive signs for the future
Despite the latest rumours that Newcastle are not going to be able to spend in the January window once again, the long-term future for the Magpies still looks very bright, it just may take longer than we thought.
Alongside the airport, PIF are continuing to buy land around Newcastle and the discussion around building a new stadium, while controversial, does seem to imply that there’s more plans to invest into the club.
Off the pitch, it’s some much needed positive news after what has a been a tough couple of months, where a series of failings over the summer created so many questions.
Hopefully investment in the football club itself comes next month. PSR continues to b a problem and sales may be key to sanction a big signing, but it seems PIF are committed to spend every penny available.
