PIF plan ambitious ‘football overhaul’ that will affect Newcastle United - cause for concern?

The Public Investment Fund are looking at expanding to a multi-club model in the coming years, according to reports.

Newcastle United were PIF’s first football investment when the sovereign wealth fund liberated the club from Mike Ashley almost three years ago. But since then, Saudi Arabia has become a hub for sport, with Formula 1, boxing, MMA, WWE, golf and snooker featuring in the Middle East.

Debates over sportswashing continue but PIF remain adamant that investing in sport is part of the Vision 2030 agenda - a strategy to diversify the country’s economy from oil. The £300million deal to buy Newcastle gave the Saudis a foothold in the Premier League - football’s flagship division.

Reports have linked PIF with Serie A outfits - namely Roma and Inter Milan - claims that annoyed Toon supporters. However, a multi-club model on a lesser scale, similar to how Manchester City operate, could be on the cards, according to GiveMeSport.

City Football Group own 13 clubs across the world, spanning from New York to Melbourne. Other high-profile examples include Sir Jim Ratcliffe’s minority stake in Manchester United and Nice ownership.

New Toon sporting director Paul Mitchell worked in a similar setup at RB Leipzig given their international sporting operation. The report claims PIF are looking for a French club, with recently-bust Bordeaux an option before buying Newcastle. 

Paris-based Red Star who, until recently, were managed by former Newcastle defender Habib Beye, are named as a possibility. They can reportedly be bought for £30million - pocket change for PIF.