Newcastle United chairman Yasir Al-Rumayyan spoke at an event in Washington DC.
PIF first moved into football when they purchased Newcastle for £305million in October 2021 before just over 18 months later taking up a 75% stake in four Saudi Pro League teams, Al Hilal, Al Nassr, Al Ittihad and Al Ahli.
Billions of pounds have been spent to raise the profile of football in the country, with many big-name players leaving Europe for the Middle East. According to Al-Rumayyan, the Saudi Pro League is ranked among the top four leagues in the world.
The mega investment is set to continue, with Saudi Arabia named as the host country for the 2034 World Cup.
Yasir Al-Rumayyan on Newcastle United and Saudi Pro League
The catalyst for it all? Newcastle United.
Speaking at The Economic Club of Washington event, Al-Rumayyan explained: “It's the World Cup, and it's the most prestigious football event in the world and there are billions of people who are watching the World Cup. It's very important to us in Saudi [Arabia] because it complements the strategy that we have when it comes to increasing the number of tourists, visitors, and also to improve the quality of life for Saudis.
“So we started with Newcastle United Football Club. It made perfect sense to us, the price was below the other English Premier League teams, and at the same time, the potential was so high. So we put about 350million, and we improved everything.
“The performance when we took it, they were 19 out of 20 and in that first season, we went all the way up to the seventh position, and we ended up with a season at the 11th.
“The next three seasons, we got the first cup in 70 years for the club. That was last year. We finished in the top five and top four for the last two of three years. We played the Champions League, which is another great event.
“And how did we do it? We just brought in our framework and our system to the decision-making process. And we took this experience, brought it back to Saudi.
Read More
“So we started the Saudi Professional Football League, and with that, as most of us know, Cristiano Ronaldo is playing there, Neymar used to play there, Karim Benzema, who are like the superstars of the world of football. And we said, ‘OK, now we have great players, how can we make the clubs great clubs?’
“So we're bringing in the same experience that we have had in Newcastle United Football Club, to Saudi, to Al-Hilal, to Al-Ittihad, Al-Nassr, to Al-Ahli, and the other clubs that we own indirectly through Aramco, through Neom, through Qiddiya. So now the Saudi Football League is ranked on the top four leagues in the world.”
Newcastle United and Saudi Pro League frustration
Premier League clubs have received around £500million in transfer fees from Saudi Arabian clubs owned by PIF but Newcastle aren’t among the major beneficiaries, which has caused frustration among supporters.
The only deal conducted between the Magpies and a Saudi club involves Allan Saint-Maximin, who in 2023 joined Al Ahli for a reported £23m. Sales made between clubs owned by the same entity are subject to "fair market value".
Continue Reading