PIF ‘in talks’ over minority Newcastle stake to fund St James’ Park plan | OneFootball

According to Reuters, citing three people familiar with the matter, Saudi Arabia’s Public Investment Fund is in talks with potential investors about taking a minority stake in Newcastle United to help finance work at St James’ Park.

The fund, chaired by Crown Prince Mohammed bin Salman, is weighing whether to expand the current ground or build a new stadium. It could also issue new shares for a future financial partner.

Newcastle chief executive David Hopkinson said the club is considering a new stadium, while a refurbishment would cost several hundred million pounds. He said a new build could top £1 billion, about €1.15 billion. He referred questions on the talks to the fund, which declined to comment.

The club is also preparing to open a new training ground extension, a multi-million-pound project announced last month that will increase the site by more than 50%.

Newcastle enjoyed early success under Saudi ownership, including two Champions League qualifications and a League Cup triumph last year. This season they have faded and sit 11th in the Premier League with one match left, with no route into Europe next term.

Source: L'Équipe