Saudi Public Investment Fund (PIF), the majority owner of Newcastle United, is said to be interested in acquiring 49% of InfraBridge at Newcastle Airport, according to The Times.
According to the report, the airport is worth £1bn, and controls 51% of the shares owned by seven municipalities.
The resumption of Newcastle United under the Saudi PIF
Newcastle United's majority owner, the Saudi Public Investment Fund (PIF), is one of the world's largest investment funds, with assets in excess of $700 billion. Established to diversify Saudi Arabia's economy away from oil dependence, the PIF has invested in a variety of industries around the world, including technology, real estate, and sports.
In 2021, PIF acquired an 80% stake in Newcastle United as part of a deal, with the aim of transforming the club into a competitive powerhouse.
Under PIF's ownership, Newcastle United have seen a lot of change, both on and off the pitch. The club has gone from flirting and relegation to a force in the Premier League and European football. With the help of over 450 million euros spent over six windows, Newcastle have brought in top talent like Alexander Isak, Bruno Guimarães, and Sven Botman.
The sale has paid off, with manager Eddie Howe guiding the club to fourth place in the Premier League in the 2022/23 season, and qualifying for the Champions League.
The strict FFP and PSR rules that do not allow the club to spend money and compete with their biggest rivals led to rumors that the owner may consider quitting the jobbut recent events show that this is not the case.
Newcastle are planning to upgrade the club's training facilities
Not only are they buying more land in Newcastle but they are also investing heavily in the city and are planning to upgrade the club's training facilities with a new state-of-the-art training facility.
A recent report has confirmed it that the Tyneside club are looking to expand Darsley Park and bring them together with the elite teams in the Premier League as the Magpies continue to close the gap little by little.
For Newcastle United, this latest development will be encouraging as it is an encouraging sign of the owners' desire to remain fully invested in the future of the club. The acquisition of the airport's shares, combined with the ongoing investment in the club and the city, reinforces the idea that the Saudi-backed project is not slowing down.
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