PIF confirm fresh cash injection into Newcastle

Newcastle’s Saudi Arabian ownership group have poured in more money to the club coffers.

The Magpies’ owners are footing the bill for “infrastructure and day-to-day operations” with the most recent cash injection.

Their addition of roughly £70.4 million takes the total they have invested in the team to £450 million in a little over a year.

A consortium led by Saudi’s Public Investment Fund owns the club, with the Newcastle first-team set to visit Saudi during the upcoming mid-season World Cup break.

A statement read: “The capital injection follows a wide range of investments in the club that has seen an upgrade of training facilities, improvements to St. James’ Park and recruitment of a number of senior executives to build out the commercial operations of the club, as well as investment in the playing squad.

“Further investment is expected which reflects the ownership group’s long-term commitments for Newcastle United.”