Public Investment Fund still wants “to inject hundreds of millions of pounds into Newcastle United”


Newcastle fans’ hopes that the Saudi-led buyout could return to the table have been heightened following claims that the Public Investment Fund “still wants to buy” United. The claim came from Frank Kane of Arab News – the first time the Saudi Arabia-based outlet referred to the takeover in the 17 weeks after the deal was signed in the Premier League.

This is particularly fascinating because Arab News is considered by many to be a very state-friendly newspaper and is owned by the Saudi Research and Publishing Company.

Kane wrote: “A closer analysis of the eight-month saga suggests that far from over, it’s just entering a new phase.

Ashley went on to insist that he remains ‘100% committed’ to the deal. It was also fairly obvious from conversations with PIF officials and with Amanda Staveley, the entrepreneur who set up the consortium, that it is still at stake.

“In reality, the consortium’s withdrawal statement changes little in the takeover equation. Ashley wants to sell. The consortium – which includes British tycoons the Reubens brothers, Staveley and the PIF – wants to buy. The PIF still want to inject hundreds of millions of pounds into the club and the economy of the North East of England. ”

Staveley referenced in an interview with Athletic that all three parties would sign the deal instantly in the Premier League approved it – while Chronicle Live in this weekend’s diary revealed that PiF sources refused to totally reject the idea of ​​going back to the agreement at some point. .

Kane also writes that

  • The Premier League has received a letter from the ‘highest economic authority in the Kingdom’ proving that the PiF was separate from the state – which it claims Masters ignored.
  • Saudi Arabia has offered to talk to the Premier League about television rights and “to actually act as a ‘underwriter’ when the EPL comes to renegotiate the deal in 2022”.
  • Finally, despite reports linking American businessman Henry Mauriss to the club, “there is no other viable bidder waiting behind the scenes.”

The Premier League have yet to comment on the toll of the failed takeover, but those at Newcastle are now starting planning for the new season to ensure Steve Bruce’s side are equipped to survive the fall.


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