Newcastle United director appointed at new club following PIF takeover

Abdulmajid Alhagbani is one of seven new directors appointed at Al Hilal following last month’s takeover by the Saudi Arabian Public Investment Fund. PIF have acquired a 75% stake in Saudi Pro League clubs Al Hilal, Al Ahli, Al Ittihad and Al Nassr with the other 25% owned by the clubs’ respective non-profit foundations.

PIF owns an 80% stake in Newcastle following a takeover in October 2021. In February 2023, PIF senior director Alhagbani was appointed to Newcastle’s board alongside Asmaa Rezeeq in an advisory role. The pair joined PIF governor and Newcastle chairman Yasir Al Rumayyan, Amanda Staveley and Jamie Reuben on the board.

Alhagbani’s appointed came after former Saudi Golf CEO Majed Al Sorour left Newcastle’s board of directors in December 2022.

He has now been appointed at Al Hilal, who lost 5-0 to Newcastle the Riyadh friendly last December during the World Cup break.

In addition to Alhagbani, PIF have appointed Abdullah Al-Abdul-Jabbar, Fahd Abu Himed, Yasser Al-Dawood and Fahad Al-Haqbani to the board with the non-profit side of the club appointing Fahd bin Nafel as club president and Suleiman Al-Hatlan

Who is Abdulmajid Alhagbani?

Financial expert Alhagbani, 42, is a senior director at PIF. He is the current head of MENA (Middle East & North Africa) Securities Investments at PIF.

Prior to joining PIF in 2018, Alhagbani spent 10 years at HSBC and worked as managing director of the bank in Riyadh. He also has a bachelor’s degree in finance from King Fahd University.