Newcastle United’s owners, Saudi Arabia’s Public Investment Fund, have no intention of selling the club despite speculation over a potential £1billion deal, according to reports emerging shortly after the news of the potential sale broke on Tuesday.
Broadcaster Richard Keys claimed on his blog that the Saudis were exploring a sale following the Magpies’ Tyne-Wear derby defeat to Sunderland.
“Another whisper I picked up recently — and I don’t think this will come as a surprise to anybody — I’m told
the Saudis are looking to sell Newcastle,” Keys said. “Regulars know I’ve been saying for some time the project was over. Apparently, there are interested parties, but the Saudis want £1b. £500m is nearer the mark.”
However, the Express’ Lee Ryder reported that PIF has no plans to sell its stake in Newcastle United, despite potential external interest.
According to the report, the Saudi honchos remain fully committed to the project at St James’ Park. Ryder reported that while it’s true that senior PIF executives have not attended a match since the Champions League fixture against Paris Saint-Germain in January, when chairman Yasir Al-Rumayyan was present in Paris, there is “daily communication” between Riyadh and the Newcastle board.
The report added that PIF will not make any immediate decisions regarding manager Eddie Howe. Instead, they will likely conduct a full end-of-season review of his job, evaluate the results, and make a decision after that process is over.
