Newcastle United’s ‘ownership group’ explain why they have injected £70.4m of equity into club

The ownership group consists of PIF, PCP Capital Partners and RB Sports & Media. It brings their total investment to date to more than £450m.

And they have confirmed ‘further investment’ is expected.

Club chiefs say they intend to compete ‘consistently at the highest levels of English and European football’.

Newcastle United are in EFL Cup action tonight, they host Crystal Palace at St James’s Park.

A Newcastle United statement read: “The ownership group, comprising PIF, PCP Capital Partners and RB Sports & Media, has invested a further £70.4 million of equity into Newcastle United FC. This investment brings the ownership group’s investment to date to over £450 million.

“The capital injection follows a wide range of investments in the club that has seen an upgrade of training facilities, improvements to St. James’ Park and recruitment of a number of senior executives to build out the commercial operations of the club, as well as investment in the playing squad.

“Further investment is expected which reflects the ownership group’s long-term commitments for Newcastle United,” added the statement.

Darren Eales, CEO of Newcastle United, added: “We are at the beginning of a long-term plan that aims to build a club that can compete consistently at the highest levels of English and European football.

“We need to develop the whole business, as well as the playing squad. And we need to do so while adhering to the Financial Fair Play rules. This additional investment further enables us to continue implementing the business plan.”