Newcastle United owners secure £78 million investment following major sports move

Newcastle United majority owners have secured a stake in another sport following the launch of its new sports investment company.

Saudi Arabia’s Public Investment Fund has invested in American company and MMA giants, Professional Fighters League, reported to be worth £78 million. As part of the deal, Saudi will host PFL events and support the growth of mixed martial arts in the Middle East which will reportedly launch next year.

Earlier this month PIF launched a new company focused on growing the sports industry in the kingdom. Acquiring the minority stake in the PFL marks SRJ Sports Investment Co’s first of many.

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Despite launching this new company, focused on investing in sports teams, players and tournaments, Newcastle United remains part of PIF’s portfolio. It’s expected LIV golf will also stay with PIF if successful in its merger with the PGA Tour.

Instead, as Saudi Arabia turns its eyes to newer ventures, such as their links with F1 and tennis. Last week it was announced Jeddah will play host to the Next Gen ATP Finals, the season ender tournament for male tennis players under the age of 21. After announcing the move, ATP chairman, Andrea Gaudenzi said:“Bringing the Next Gen ATP Finals to Jeddah is our chance to inspire new fans, in a region with a vast young population, and unite audiences around tennis.”

Earlier this year, PIF had a multi-billion dollar investment rejected by Formula 1.

Newcastle United’s owners show no signs of slowing down, with PIF’s aspirations growing bigger. Over the past 18 months, the fund has spent around $8bn on acquisitions, a number which will rapidly get bigger now SRJ is up and running.