Newcastle United Football Club’s controlling fund now owns a majority stake in four Saudi Pro League clubs, as part of Saudi Arabia’s sports clubs investment and privatisation project, the Public Investment Fund (PIF). The PIF, which holds an 80% majority stake in Newcastle, now owns 75% of Al Ittihad, Al Ahli, Al Hilal and Cristiano Ronaldo’s Al Nassr. The four clubs have been transformed into companies, each owned by the PIF and non-profit foundations for each club. Existing members of each club will be included in the four foundations. The transfer of the four clubs will unleash various commercial opportunities, including investment, partnership and sponsorships across numerous sports. The PIF’s latest project will not directly impact Newcastle, but the move may be valuable for the club in the future. Each club will be managed by an independent board and have separate executive management. Clubs in the Saudi top flight are being privatised as part of a government initiative to help the sport further develop. FIFA has been approached for comment on the issue.
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