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Newcastle United have won their first trophy since PIF completed their takeover in October 2021.
Yasir Al-Rumayyan has vowed to deliver more trophies to Newcastle United after they finally ended their long trophy drought.
For the first time in 56 years, the Magpies have won a trophy after lifting the League Cup following a 2-1 victory over Liverpool on Sunday.
It is just over three years since the Public Investment Fund of Saudi Arabia completed their £305million takeover of Newcastle. PIF governor and Newcastle chairman Al-Rumayyan was in attendance at Wembley, and got right in the thick of the celebrations.
After lifting the trophy in the royal box, Al-Rumayyan made his way onto the pitch. As he held the cup aloft in front of the 32,000 Geordies, he made rousing 11-word statement that was picked up by the TV cameras.
His message? “That’s the first, and it’s not going to be the last”.
In addition to Al-Rumayyan’s words, PIF also issued a message via their official social media pages, which read: “#PIF congratulates @NUFC on the club’s historic victory in the Carabao Cup final today at Wembley Stadium, London. #NUFC.”
Yasir Al-Rumayyan wants Newcastle United to be number one
Al-Rumayyan has previously gone on record to say he wants Newcastle to be “number one”. Despite getting over the first hurdle of winning a trophy, the club’s progress has been slowed overall.
Premier League Profitability and Sustainability Rules (PSR) have restricted the club’s spending on new players, with Howe’s squad going three transfer window without making a major signing.
“I think when PIF took over, and don’t want to speak for PIF, that is very difficult to do, I think the landscape was different then, compared to now,” said Howe.
“A lot has changed in terms of PSR: the biggest change, the inability to spend, and our need to comply with rules to prevent a points deduction. Of course that impacts the ability to progress the club as quickly as maybe they wanted to.
“I don’t think the dream dies, necessarily, it takes a lot longer. We have got to build our revenue streams, that is the biggest thing. Bring more money into the football club, however we do that, sponsorship, loads of things.
“That is the big thing we need to focus on in the next ten years, whether I am lucky enough to see any of that, who knows. So the dream is not over, it is just going to take a lot, lot longer.”
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