Saudi PIF Raises Its Stake in Newcastle United to 85%
This move also marks the departure of husband-and-wife co-owners Amanda Staveley and Mehrdad Ghodoussi.
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Saudi Arabia’s Public Investment Fund (PIF) has increased its ownership in Newcastle United from 80% to 85%, as confirmed by the club on Friday. This move also marks the departure of husband-and-wife co-owners Amanda Staveley and Mehrdad Ghodoussi, whose stake in the club will be entirely acquired by PIF and RB Sports & Media.
Read More: Saudi Arabia is Going All in on Sports
Staveley’s firm, PCP Capital Partners, initially held a 10% stake when the consortium took over the club nearly three years ago. This was reduced to 6% last year when RB Sports & Media increased its share to 14%. With this new deal, RB Sports & Media will hold 15% of Newcastle United.
The transaction, expected to be finalized this month, aligns with PIF and RB’s long-term strategy to develop the club into a strong competitor both domestically and in Europe.
The PIF, Newcastle’s majority owner with $925 billion in assets under management, continues to focus on sports investments globally, although Newcastle remains its sole European football asset.
PIF which holds significant stakes in clubs like Newcastle United and Saudi domestic clubs, established SRJ Sports Investments to accelerate the sports industry in Saudi Arabia and MENA by acquiring broadcasting and intellectual property rights for sports events and organizing and hosting global sporting events in Saudi.
Last year, Saudi Crown Prince and Prime Minister Mohammed bin Salman announced the sports club investment and privatization project to encourage investment in the sporting sector and privatize sporting clubs. This week, the Saudi Ministry of Sport announced the privatization of 14 teams from various divisions.
The kingdom has also secured hosting rights for major events such as the Asian Champions League Finals, the Asian Games in 2034, and the FIFA World Cup in 2034.
Saudi Vision 2030 is the driving force behind the kingdom's ambitions to become the gaming capital of the world.