Newcastle United Chairman and PIF Governor Yasir Al Rumayyan is understood to be in the North East ahead of a key meeting with Magpies leaders.
Newcastle United leaders scheduled to meet (Image: Getty)
Newcastle United leaders meet with PIF delegates at Matfen Hall ahead of an important end-of-season gathering at the country estate. Yasir Al Rumayyan is believed to have arrived by plane and is expected to articulate his vision to those in attendance.
The Magpies currently sit in 14th place in the Premier League. Manager Al Rumayan has declared that he wants Newcastle to be ‘number one’ in 2023, and it is thought that his ambition remains firmly in place.
Just hours before the high-profile summit, with Toon chairman and PIF supremo Al Rumayyan already believed to be on Tyneside, it was confirmed that Saudi Arabia would no longer provide funding to LIV Golf. BBC Sport reported this morning that a “new strategic plan” is being developed to replace the PIF funding.
Nevertheless, Al Rumayan’s presence on the Newcastle board is in itself an important sign of commitment as plans for the 2026/27 season are drawn up.
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read more: LIV Golf loses PIF funding as Bryson DeChambeau and others’ futures come into questionread more: Former England manager Steve McLaren to negotiate with relegated club over EFL surprise return
Al Rumayyan will address Newcastle’s top brass, including CEO David Hopkinson, Eddie Howe, sporting director Ross Wilson and key figures behind the scenes at St James’ Park. His speech will detail the PIF’s wider ambitions for Newcastle.
It is understood that Al Rumayyan co-founded the Tour in 2021, the same year as the Newcastle takeover, and will step down from his role on the LIV board. This naturally raised concerns among the Newcastle faithful that the PIF would do the same at St James’s Park and withdraw their financial support.
Al Rumayan outlines the club’s plans (Image: Getty)
However, Chronicle Live reports that this has nothing to do with PIF’s continued involvement in Newcastle. The Magpies remain a key part of PIF’s strategic portfolio and are one of three key investments mentioned by the club’s Saudi backers in the next phase of their strategy looking to 2030.
Before heading to the North East, PIF released the following statement: “PIF’s 2026-2030 Strategy provides a clear strategic direction for the coming decades.
“It also strengthens PIF’s position as a local and global investor with a diverse and resilient portfolio that contributes to Saudi Arabia’s long-term economic prosperity. PIF’s unique mission to drive Saudi Arabia’s economic transformation and generate sustainable financial returns remains unchanged.”
PIF withdraws funding from LIV (Image: Getty)
Neither LIV nor PIF have commented on the LIV Golf report, but this decision has nothing to do with Newcastle. On 1 December, CEO David Hopkinson also made it abundantly clear that PIF was firmly focused on the club, saying at the time:
“How far do we need to get by the end of 2025? Where do we go by 2026? How far along are we by 2027? Where are we falling behind? What are our mitigation plans? How are we coordinating things? What we don’t say is that we’re writing plans for every element of granularity that’s going to happen between now and 2030.”
“But what we have is a very specific direction and important milestones that we need to achieve. We don’t win by accident. We can win because we’ve been thoughtful and strategic about the organization we’ve built. Its sole purpose is to win.”
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