Newcastle United confirm fresh PIF move as St James' Park decision awaited

The club have confirmed that Jacobo Solis has been appointed to the club’s Board of Directors. The move comes following an announcement in October 2024 that Roger Thornton had also joined the club.

A statement from the club on Solis’ appointment read: ‘Newcastle United today announced the appointment of Jacobo Solis to the club's Board of Directors.

‘Solis is Head of Europe Direct Investments in the International Investments Division at PIF. He has been directly involved with Newcastle United since the acquisition of the club by an investment group led by PIF in October 2021 and is closely aligned with the club's strategy and plans for the future.

‘Prior to joining PIF, Solis worked as an investment banker in the United States, and prior to that, as a lawyer in his native Spain. He also sits on the boards of LIV Golf, E1 Series, the all-electric powerboating championship, and POSCO E&C, the South Korean engineering company, all of which have received investment from PIF.’

PIF currently own around 85% of shares in Newcastle United following Amanda Staveley and Mehrdad Ghodoussi’s departure from the club in summer. The pair, who were instrumental in getting a takeover of the club over the line back in October 2021, saw their shares, which totalled 10%, split between PIF and RB Sports and Media upon stepping away from the club.

Newcastle United are also expected to provide an update on the future of St James’ Park in the near future with a new stadium also potentially on the cards.