During an interview with The David Rubenstein Show on Bloomberg, Al-Rumayyan – the chief of the investment fund – was quizzed on what PIF’s primary objectives are in the coming months.
And he has explained how the group are considering different sources of revenue as they bid to increase their financial returns.
“We need to have higher returns and a positive economic impact,” said Al-Rumayyan.
“We also need to improve the diversity of revenues.”
The hilarious reason Newcastle United goalkeeper Nick Pope went viral on Twitter following Burger King tweet
Newcastle United transfer target confirms move ahead of official announcement
Newcastle United ‘in talks’ over Chelsea duo, Toon set to walk away from ‘£60m’ discussions
Newcastle United to ‘push ahead’ with £48m double raid, Toon in ‘pole position’ for £42m Tottenham star
Tottenham Hotspur star ‘banished’ from squad amid Newcastle United speculation - reports
The investment chief also went on to explain the process of how the PIF approve an investment deal.
Using the example of PIF’s recent investment in transportation app Uber, Al-Rumayyan revealed the extensive layers of approval that are required before PIF invest in any business – with their move for Newcastle United set to go through similar steps, if it has not already.
“I ask the team to go look at it, and then it goes through the investment structure we have,” he explained.
“We have layers and layers of investment diligence and what have you.
“It then goes to the investment committee and the board.”
Al-Rumayyan is the sole director of a company called NCUK Investment Limited, which was established in January as PIF eye a deal for the Magpies.
Reports earlier this week suggest that the deal has taken a step forward after the Premier League were informed of a potential takeover.