Newcastle United owners make £70.4m cash injection as investment exceeds £450m mark

Newcastle United’s owners the Public Investment Fund of Saudi Arabia, PCP Capital Partners and RB Sports & Media have invested a further £70.4million of equity into the football club - with their total investment to date exceeding £450m.

In a statement released by the Magpies, “the capital injection follows a wide range of investments in the club”, including investment in the playing squad, improvements to St James’ Park, the extension of the training ground, plus the recruitment of a number of senior executives to build out the commercial department.

United added that “further investment is expected which reflects the ownership group’s long-term commitments for Newcastle United”. The owners have made no secret of their ambition to transform Newcastle into a world powerhouse.

Chief executive Darren Eales explained: “We are at the beginning of a long-term plan that aims to build a club that can compete consistently at the highest levels of English and European football.

“We need to develop the whole business, as well as the playing squad. And we need to do so while adhering to the Financial Fair Play rules. This additional investment further enables us to continue implementing the business plan.”

A total of £305m was invested at the time of the takeover in October last year. A further £38.5m was invested a month later, followed by another £40m in January. The club has also secured banking facilities to support its working capital requirements.

While investing in a number of different areas behind the scenes, the club’s owners have supported head coach Eddie Howe in the transfer market. Around £210m was spent in January and in the summer on the likes of Kieran Trippier, Bruno Guimaraes, Sven Botman and Alexander Isak.

United currently sit third in the Premier League table having collected 27 points from their opening 14 games. They face Crystal Palace in the Carabao Cup on Wednesday, while the visit of Chelsea to St James’ Park this weekend is the last fixture before the five-and-a-half-week WWorld Cup break.