PIF have reaffirmed their support for Newcastle United by laying out a five-year plan.
It has been just shy of four years since PIF completed their takeover of Newcastle United.
Since then, Eddie Howe has led Newcastle back to the Champions League and to two cup finals. Newcastle have a chance to end their 70-year trophy drought in the 2025 Carabao Cup final this Sunday.
Winning a trophy feels like the next big step for this Newcastle side – a symbol that they are ready to challenge at the top of English football once again.
Newcastle CEO Darren Eales says PIF are “100% committed” to Newcastle’s success despite some concerns that the project was drifting off-track.
PIF flew to Newcastle last month to discuss their long-term and short-term aims, and it seems to have resulted in an aptly named ‘Project 2030’.
What is PIF’s Project 2030? Four clear targets
According to The Telegraph, Newcastle are preparing to launch a “Project 2030” which is a five-year plan laid out by PIF for the club’s success.
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It is viewed as the “second phase” of Newcastle’s rise to the top under PIF, and it involves four very clear-cut targets.
Winning a trophy
Building a new stadium
Rejuvenating the squad
Closing ‘Big Six’ revenue gap
Let’s start at the top with PIF aiming to win silverware by 2030. With a cup final just four days away, it seems the easiest of the four targets to achieve. But that requires Howe’s side beating Liverpool at Wembley.
According to the report, there is “quiet confidence behind the scenes” that Newcastle are better equipped to challenge for the trophy compared to the final two years ago. PIF want Newcastle to be regular trophy challengers by 2030.
PIF lay down £1.5bn stadium plan
The next of the four targets is to build a new stadium. PIF insist that there are still two options on the table – to expand St James’ Park’s capacity or to build a new 70,000-capacity stadium.
Newcastle fans reacted to Man United’s new stadium plans this week, and it seems they will have their own concept designs to mull over in the near future.
That is because PIF want to build a new stadium, and the above report claims they are pushing for a £1.5bn project that will be complete by 2030.
The next task will rely heavily on sporting director Paul Mitchell and the recruitment team, who will finally have a budget to improve Howe’s squad this summer. Howe warned of Newcastle growing “stale” without new signings.
Newcastle are set for a £73m PSR boost which should bring an end to the transfer misery. New signings are expected, and PIF want a “rejuvenated” squad ready to challenge in 2030.
Finally, PIF want to close the revenue gap to the established ‘Big Six’ in the Premier League. Newcastle announced revenue of £320m this month in the latest set of accounts.
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Newcastle’s revenue exceeded expectations, but there is still a long way to go with the likes of Manchester City and Manchester United recording revenue of over £650m.
By 2030, PIF want that gap to be minimal. It will put Newcastle in the best position possible to challenge at the top.