It’s difficult to truly grasp just how rich Newcastle’s owners, the Saudi Public Investment Fund (PIF) are, because sums around £500bn are frankly beyond comprehension, but every Premier League chairman and club should be running scared after Yasir Al-Rumayyan’s latest gambit.
The Magpies chairman and Governor of the fund was speaking at a recent business summit, and what he had to say will surely devastate all other owners in the English top-flight.
“PIF when the Crown Prince became the Chairman back in 2015, we had $150billion (£121.1bn) assets under management, today we’re around $650billion (£524.8bn) and our target by the end of 2025, we want to go to $1trillion (£807.5bn). By the end of 2030, we’re hoping to be somewhere between $2-3trillion (£1,615bn-£2,422.5bn).”
Wow!
?#NUFC pic.twitter.com/MT78h6T9Bd
— Geordie Joe (@GJ_1892) March 30, 2023