Newcastle United owners PIF set for talks to complete £1bn Sunderland linked deal after major swoop

Financial firm JP Morgan are overseeing the sale of Infrabridge’s 49% share in a deal worth up to £1billion. According to The Times, the Saudi Arabian Public Investment Fund are the ‘front-running bidders’ having invested significantly in the aviation industry in recent years.

PIF launched Riyadh Air in 2023 while Saudi Arabia’s other national flag carrier Saudia are commercial partners of Newcastle United. The sovereign wealth fund also just acquired a 37.6% stake in Heathrow Airport alongside French co-investor Ardian in a £3.3billion deal.

Despite PIF being tipped to invest in Newcastle Airport, sources close to Infrabridge claim that formal talks are yet to take place.

The remaining 51% stake in Newcastle Airport is owned by local councils, which include both Newcastle and Sunderland City Councils. The Gateshead, Durham, North Tyneside, South Tyneside and Durham councils are also part of the ‘Newcastle Airport Local Authority’ group.

The potential minority sale of Newcastle Airport is the latest in a flurry of airport sales across the United Kingdom in 2024 with Aberdeen, Edinburgh, Glasgow and Southampton also receiving fresh investment along with Heathrow.

PIF own an 85% stake in Newcastle following a takeover in October 2021 worth over £300million. RB Sports & Media own the remaining 15% in Newcastle with parent company Reuben Brothers investing significantly in the city in recent years.

A PIF-led minority takeover of the North East’s primary and busiest airport may not be overly popular throughout the region due to the clear link with Newcastle United. Of the millions of passengers the airport serves every year, many are supporters of Newcastle’s fierce rivals Sunderland.

And we all know how seriously people in the North East can take their football!