Newcastle United coach pushes back on PIF rumours
- Fund committed to growing club
- Drawing down sports investments
- Reported talks for new stadium
Newcastle United’s manager told reporters that the Public Investment Fund remains “very ambitious for the football club”, although said he has received no specific reassurances on financial backing.
Speaking at a press conference on Wednesday, Eddie Howe said that PIF, which controls more than $900 billion in assets including Newcastle FC, will continue looking “to grow the club in every aspect”.
His comments came after a meeting between PIF and Newcastle officials on Tuesday following reports that the fund drawing down investments in its LIV Golf franchise and the Snooker Masters.
The funding announcements sparked speculation that PIF, which is reviewing investments and prioritising domestic projects related to Vision 2030, could look to reduce its stake in Newcastle.
Howe said that PIF’s desire was “unchanged” – “it’s to try and get to the top of the Premier League, to try and win as many trophies as consistently as possible”.
Newcastle, which is currently 14 out of 20 teams in the UK’s Premier League, has lost its previous four league matches, a run of form Howe called “not good enough”.
Last year, the club reported its first year of a profit since PIF bought the club in 2021 following the sale of its stadium to a separate company also belonging to the club’s owners.
PIF is also reportedly in talks to develop a new stadium with around £1 billion ($1.4 billion) of external funding.
Howe said he was not privy to any new developments in the stadium or a new training ground, saying only that they will “take a bit of time”.
“These things don’t happen with a click of the fingers,” he said.
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