Yasir Al-Rumayyan has already addressed Chelsea & Liverpool PIF rumours after £305m Newcastle United deal

There are, however, several reasons to doubt such claim and put any worried supporters’ minds to rest.

The ownership of Newcastle has been back under the spotlight this week after leaked WhatsApp messages - obtained by the Daily Telegraph - showed Amanda Staveley referencing Crown Prince Mohammed Bin Salman in exchanges with Mike Ashley’s associates in 2020. “The Crown Prince is losing patience”, read one message from Staveley, while another revealed PIF governor Yasir Al Rumayyan was “trying to convince the Crown Prince not to pull out” when the proposed takeover hit difficulties.

Should it come as a surprise that Bin Salman, the chairman of PIF taking an interest in PIF investments? It doesn’t mean Bin Salman is making the decisions at Newcastle United, and that is ultimately the judgement the Premier League came to in October 2021 when they approved the £305m takeover after receiving “legally binding assurances”.

Having gone through all the trouble to acquire Newcastle, it’s hard to envisage PIF bailing just three years in, even if progress is slower than first anticipated. There is, however, an understanding as to why.

“I think when PIF took over, and don’t want to speak for PIF, that is very difficult to do, I think the landscape was different then, compared to now," Newcastle boss Eddie Howe said recently . "A lot has changed in terms of PSR: the biggest change, the inability to spend, and our need to comply with rules to prevent a points deduction.

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“Of course that impacts the ability to progress the club as quickly as maybe they wanted to. I don’t think the dream dies, necessarily, it takes a lot longer. We have got to build our revenue streams, that is the biggest thing. Bring more money into the football club, however we do that, sponsorship, loads of things. That is the big thing we need to focus on in the next ten years, whether I am lucky enough to see any of that, who knows. So the dream is not over, it is just going to take a lot, lot longer.”

Two of the clubs ‘rumoured’ to be of interest to PIF, as per The Independent (the national newspaper in question) are Chelsea and Liverpool, yet Al-Rumayyan - the Magpies’ non-executive chairman - has already addressed the prospect of taking over the former.

Speaking two years ago, Al-Rumayyan explained: "Why did we choose the English Premier League? Because it is the greatest league that exists in the world. No other league competes with it. Any team from the 20 can beat the strongest team.

"Before Newcastle we had offers from Italy, France and also the UK. One UK club offered us 30 per cent for £700m and without any management.

"Amanda Staveley brought Newcastle to us and said 'we like it so much, we would like it to be with you'. The Reuben family came and said 'we would like to be partners in the investment'. So they have skin in the game.

"We bought the team for £350m, compared to 30 per cent [of the unnamed club] which is £700m. Then you have Chelsea who sold for £3.5bn. So my aim now is to make Newcastle go from £350m to £3.5bn, that's 10 times the money. If we had bought Chelsea, for example, how much would it bring us in profit?"

From expanding the training ground to investment in the playing squad and an increase in commercial figures, the value of Newcastle has already gone up. But there is more to do, and the future of St James’ Park - to stay or to go - will be the greatest indicator of PIF’s commitment.

Actions speak louder than words but Al Rumayyan’s words have been pretty strong to date.

“I remember the first time when I walked into St James’ Park, it was one magical, electrical moment for me,” Al-Rumayyan said last year. “It’s not the first time for me to step into a football stadium, I’ve been to many World Cups and many other sports – Superbowl and what have you. But what I felt when I walked in, and I’m not just saying this because I am the chairman, it was magical.

“I would say to the fans, we have one the best fanbases in the EPL and potentially in the world. I consider myself as a fan, not only the chairman or the owners’ representative. That’s why I have this (points to black and white on inside lining of his jacket). Although I am not wearing the jersey, I am wearing it inside.

“I love the flags – the fan engagement with the supporters waving the flags. I did it once or twice and I felt so proud. You feel that you are part of a bigger thing, and this bigger thing has to be a good thing, a better thing than you are. This is the whole idea – we have to be, and belong, to something bigger than us, and that can add a lot of emotional value and happiness to our lives. That’s part of the magic of football.”