NEWCASTLE United are turning heads with their performances this season under manager Eddie Howe.
Sitting in the top four of the Premier League table the Geordie outfit are pushing to qualify for the Champions League, we look at their new owners who have spurred the club’s change of fortunes.
AFPPIF bought the club from much maligned previous owner Mike Ashley[/caption]
Who are Newcastle United owners PIF?
Newcastle United fans had been demanding that previous owner Mike Ashley stepped away from his ownership of the club.
Their prayers were answered when PIF came in to purchase the Geordies and laid out their plans for the club’s future.
PIF, Public Investment Fund, now have an 80% share in Newcastle and have made some big claims on where they want the club to be in their bold strategy.
The company is the sovereign wealth fund of the country of Saudi Arabia.
PIF is made up of three partners, we look into owners who now own the North East football team:
Sovereign Wealth Fund of Saudi Arabia
Many areas with fossil fuel deposits set up wealth funds to invest money in projects in developed countries to protect their long-term vision for a post-oil future.
The chairman of PIF is Saudi Crown Prince Mohammed bin Salman, commonly referred to as MBS, is the ruler of Saudi Arabia.
Yasir Al-Rumayyan is PIF’s governor and non-executive Chairman of Newcastle United.
He is often seen at games and has been given a warm welcome by fans as the new owners look to finally give the Geordie faithful the success they have craved for so long.
It has been stated that PIF is completely separate from the country of Saudi Arabia, something the Premier League accepted during the football club’s takeover.
The company’s website states “PIF is required to invest and reinvest available funds in order to achieve its objectives for the benefit of the public welfare, support economic development, and diversify sources of income for the Kingdom of Saudi Arabia.”
PCP Capital Partners
PCP Capital Partners Group was founded in 2005 by Amanda Staveley, CEO of the company, and they hold a 10% stake in the football club.
Staveley is often seen at St James’ Park accompanying Yasir Al-Rumayyan.
It is rare in the North East to see one without the other.
When the new owners came in at Newcastle United Ms Staveley stated “This is a long-term investment. We are excited about the future prospects for Newcastle United.
“We intend to instil a united philosophy across the club, establish a clear purpose, and help provide leadership that will allow Newcastle United to go on to big achievements over the long term.
“Our ambition is aligned with the fans – to create a consistently successful team that’s regularly competing for major trophies and generates pride across the globe.”
RB Sports and Media
RB Sports and Media is the sporting arm of Reuben Brothers investment firm.
James Reuben sits on the Newcastle United board as a representative of the company, working closely with Amanda Staveley and Yasir Al-Rumayyanis.
The son of billionaire property tycoon, David Reuben, are the second richest family in the UK.
The former QPR board member is also a director of Arena Racing Company, which Reuben Brothers acquired in 2012.
This operates 16 horse racing tracks across the country.
What is PIF net worth?
The Saudi Arabian Crown Prince Mohammed bin Salman chairs PIF, his nation’s wealth fund.
Mohammed bin Salman is part of the country’s royal family which is worth up to £1.1 trillion according to Business Insider.
The sovereign wealth fund that holds a majority stake in Newcastle was valued at around £315bn by Sky Sports when the takeover was confirmed.
PIF’s initial £300m investment in Newcastle United shows their commitment and long-term vision for the Premier League side.
Sitting pretty in third place in the table, Eddie Howe‘s side have a realistic chance of securing Champions League football this season, at the cost of the likes of Liverpool and Chelsea.