The Clap
The Saudi Public Investment Fund (PIF) and other investors have invested an additional GBP 70.4 million into Newcastle United.
The Deets
The English club saw an influx of GBP 450 million from its owners.
So What
The Public Investment Fund finalized a deal to acquire Newcastle United in October 2021.
Jaime Reuben, son of billionaire businessman David Reuben and Amanda Staveley, was part of the acquisition consortium on behalf of the PIF.
Now What
The team is having a successful season in the Premier League, where they currently sit in third place after a string of strong performances.
According to the club’s CEO Darren Eales, the club is “at the beginning of a long-term plan aimed at building a club that can consistently compete, at the highest levels of English and European football.”
