Newcastle United's new PIF director confirmed

A Companies House update confirmed that The Magpies’ non-executive chairman is now listed as a director of ‘Newcastle United Limited’ alongside Jamie Ruben and Amanda Staveley.

Back in October, the three were involved in the £300million takeover of Newcastle by Saudi Arabia’s Public Investment Fund (PIF), PCP Capital Partners and RB Sports & Media. Al-Rumayyan, 51, is the governor of PIF and has already attended Newcastle matches since the takeover.

Following the takeover, he said: “Whilst we are newcomers to Newcastle, we are investing alongside people who have been committed to this Club and this city for many years.

"Amanda Staveley’s PCP Capital Partners is a key part of our investment group. Jamie Reuben and his family are already significant investors in the city of Newcastle."

With an estimated net worth of around $500billion, PIF are one of the biggest sovereign wealth funds in the world, effectively making Newcastle the richest club in world football.

"The role of my team at PIF is a bit different,” Al-Rumayyan added. “Our job is to look at the bigger picture – so we will be working with the rest of the Board to set the overall strategy, monitor how that is progressing and determine the changes we need to make.

"You will hear from us less often, but I can assure you that we will always be actively engaged.

"I want to thank you all for the support you have given to this Club. Without fans like you, there is no Newcastle United Football Club and we will never take your support for granted."

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