According to Bloomberg, Saudi Arabia’s Public Investment Fund (PIF) intends to raise annual capital deployment from £31.6 billion to £39.5 billion to £55.3 billion per year after 2025.
This was confirmed by Yasir Al-Rumayyan, Newcastle United’s chairman and PIF governor, at the FII Priority Conference in Miami.
In 2021, PIF bought an 80% share in Newcastle United from Mike Ashley for around £305 million.
Since the takeover, the club’s fortunes have improved significantly, with manager Eddie Howe leading them to a fourth-place finish and Champions League qualification.
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Despite their promising trajectory, Newcastle has struggled to replicate their previous season’s success, owing mostly to injury issues.
And, despite their unlimited financial resources, the Magpies have been cautious during the transfer window, following to strict Financial Fair Play and PSR guidelines.
They are now eighth in the table, with 37 points, 10 points behind fifth-place Tottenham and 12 points behind fourth-place Aston Villa.
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