Newcastle United chairman resigns from takeover company as new appointments made

On July 25, Al-Rumayyan’s resignation from NCUK Investment Limited was confirmed along with PIF chief operations officer Bander Mogren. The pair have been replaced by PIF chief financial officer Yasir Al-Salman and deputy governor Turqi Al-Nowaiser.

NCUK Investment Limited is a shell company set-up by PIF to form the 80% ownership of PZ Newco Limited, which facilitated the Newcastle United takeover in October 2021.

Although Al-Rumayyan’s resignation from NCUK Investment Limited has caused some concern amongst supporters, he remains as a director at both PZ Newco and Newcastle United, where he is chairman. Additionally, senior sources at Newcastle have confirmed nothing has changed internally at the club regarding Al-Rumayyan’s position or the club’s future strategy.

This summer has seen significant attention and investment given to the Saudi Pro League with PIF taking over Al Hilal, Al Ahli, Al Ittihad and Al Nassr. Newcastle’s pending sale of Allan Saint-Maximin to Al Ahli has been scrutinised by Premier League clubs due to the ownership links.

Recent comments from Al-Rumayyan also suggested that PIF decisions can be overruled if its chair, Crown Prince Mohammed bin Salman, does not agree with them. This is despite Newcastle’s takeover being approved due to ‘legally binding assurances’ that the club’s ownership would operate independently from the Saudi state.

The club head into the 2023-24 season on the back of their most successful campaign in over two decades after securing a top four finish and Champions League football as well as reaching the Carabao Cup final.