Newcastle United's PIF owners secure billion pound deal in fresh move

Newcastle United's owners have agreed to buy a significant stake in Europe's busiest airport.

Saudi Arabia's Public Investment Fund (PIF) have secured 10% of Heathrow following Spanish infrastructure company Ferrovial's decision to sell 25% of the West London Airport .

A France-based private equity firm has agreed to purchase the other 15% in a combined deal reported to be worth £2.37bn. However the transaction is still subject to regulatory conditions.

Significant debt means the airport has been losing money since the start of the 2023.

PIF have owned 80% of Newcastle United since the club's historic takeover in 2021. In a bid to diversify Saudi Arabia's economy away from oil, the sovereign fund has been profusely investing in other sectors, most notably in sports and leisure.

This year PIF launched Riyadh Air, its own airline which quickly became the front-of-shirt sponsor for Atletico Madrid despite its first flight not taking off until 2025.