PIF’s Newcastle United project is about to go into overdrive.
When PIF bought Newcastle United from Mike Ashley in 2021, their ambitions were very clear. They wanted Newcastle United to become one of the biggest clubs in the world, consistently competing for the top honours.
Given where the Magpies were when the takeover went through, it was always going to take a long time for PIF’s vision to become a reality.
There were then fears that it could take even longer than anticipated, with PSR limiting Newcastle United’s ability to invest. In turn, that hindered the Magpies’ ability to progress and grow as a club.
Photo by Sebastian Frej/MB Media/Getty Images
Photo by Sebastian Frej/MB Media/Getty Images
How PIF have lifted spirits behind the scenes at Newcastle United
There have been concerns that PIF’s interest has been waning, but there has been a renewed desire to insist that is not the case.
Toon chairman Yasir Al-Rumayyan visited Tyneside recently, where PIF laid out their plan for Newcastle to become an elite club.
According to the Athletic, PIF’s private reassertion of their ambitions has had a positive impact behind the scenes at St James’ Park.
The goal is to be number one, and it appears that PIF have got everyone at the club pulling in the same direction.
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Newcastle United win a trophy as the wait for Darren Eales’ successor goes on
One of their major goals has already been achieved. PIF wanted a trophy, and they have got it.
Newcastle won the Carabao Cup final on Sunday, ending their 70-year wait for a domestic trophy.
Hopefully the wait for the next piece of silverware is not as long, with Al-Rumayyan insisting that Newcastle will win more trophies during the celebrations at Wembley.
The Newcastle United owners also plan to build a new stadium, improve the squad and increase the club’s revenue.
It will be up to Darren Eales’ successor to deliver those goals, with the Magpies’ current CEO set to leave the club due to health issues.
It was confirmed in September 2024 that Eales would be resigning after being diagnosed with a chronic form of blood cancer. However, he would not step back until a replacement had been appointed.
That is yet to happen, with Eales still part of the Newcastle United hierarchy. He was part of the Wembley celebrations, with Eales lying in bed with the Carabao Cup.