Newcastle United owners launch multi-billion dollar model as they eye sport world domination

Newcastle United’s owners are set to solidify their position in the sports world by launching a multibillion-dollar investment company to expand its interests, according to the Financial Times.

The Saudi Arabian Public Investment Fund initiated their sporting aspirations with the takeover of Newcastle in 2021 which has since been followed by attempts of investment in Formula One, a golf power grab and now tennis in its sights.

A new sports group, the plan is to use the sovereign wealth fund to expand and diversify the kingdom further with the aim of making more acquisitions and investments across the globe.

However, despite constructing a designated sporting arm of PIF, neither Newcastle United nor LIV Golf will be run by the new company. Instead, it will focus on new opportunities.

It is not yet clear how the new company will interact with the Saudi Pro League. PIF took over the four largest clubs in its domestic league, financing the mammoth move of Karim Benzema.

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But with tennis on PIF’s mind, securing a deal with the men’s ATP and women’s WTA tours could be the first target of the company.

So, although it’s early days and it looks like Newcastle will not be affected by the moves, PIF are set to strengthen their position across the industry providing further connections and potential future deals for the club.

One thing is for sure and that is PIF has more than enough funds to make some real moves. As seen with the PGA-LIV Golf merger, the fund has spent almost $8bn on acquisitions over the past 18 months. But there’s a lot more where that came from, with $38bn at PIF’s disposal.