Newcastle United’s ownership group, which comprises Saudi Arabia’s Public Investment Fund, PCP Capital Partners and RB Sports & Media, has committed to invest a further $80.4 million of equity into the club, an official statement has confirmed.
This amount will bring the group’s total investment to more than $514 million since the takeover in Oct. 2021.
The new capital injection comes in the wake of several investments that have seen an upgrade in training facilities and St. James’ Park, the recruitment of senior executives to boost the commercial operations of the club, and additions to the playing squad.
Newcastle CEO Darren Eales said: “We are at the beginning of a long-term plan that aims to build a club that can compete consistently at the highest levels of English and European football.
“We need to develop the whole business, as well as the playing squad, and we need to do so while adhering to the Financial Fair Play rules. This additional investment further enables us to continue implementing the business plan.”
Newcastle United currently sit third in the Premier League table after a run of six wins in seven matches.
