PIF expected to underline Newcastle commitment
[Getty Images] Newcastle United and LIV Golf have shared the same backers in Saudi Arabia's Public Investment Fund (PIF) for several years. But the PIF's plans to withdraw its multi-billion dollar backing of LIV Golf at the end of the season also came out of the blue for those working at the club when they heard the news a couple of weeks ago. It highlighted how separate and different these investments are.
There had not even been talk of business collaboration previously. Senior figures at Newcastle were informed the pullout did not affect the club, however, and they have not seen anything that has changed regarding the PIF's commitment. The fund are still viewed as being engaged.
Newcastle's hierarchy speak to the PIF every day and chairman Yasir Al-Rumayyan and a Saudi delegation are currently in the North East for an annual club summit at Matfen Hall. A major capital investment is in the pipeline with an announcement expected to come down the line regarding plans for a new state-of-the-art training ground, which would underline the owners' backing. Those at the top, including minority stakeholder Jamie Reuben, will hold additional discussions this week about the future of St James' Park, as Newcastle look to bridge a huge revenue gap on the Premier League's highest-earning clubs in the long run.
The off-site has also been regarded as a timely opportunity to analyse what has gone wrong during Newcastle's bruising season, talk about recruitment plans and plot how the Magpies are going to go about bouncing back.