Video: Vast wealth of Newcastle’s owners laid bare and every Premier League team should be running scared
It’s difficult to truly grasp just how rich Newcastle’s owners, the Saudi Public Investment Fund (PIF) are, because sums around £500bn are frankly beyond comprehension, but every Premier League chairman and club should be running scared after Yasir Al-Rumayyan’s latest gambit.The Magpies chairman and Governor of the fund was speaking at a recent business summit, […]
The post Video: Vast wealth of Newcastle’s owners laid bare and every Premier League team should be running scared appeared first on CaughtOffside.
It’s difficult to truly grasp just how rich Newcastle’s owners, the Saudi Public Investment Fund (PIF) are, because sums around £500bn are frankly beyond comprehension, but every Premier League chairman and club should be running scared after Yasir Al-Rumayyan’s latest gambit.
The Magpies chairman and Governor of the fund was speaking at a recent business summit, and what he had to say will surely devastate all other owners in the English top-flight.
“PIF when the Crown Prince became the Chairman back in 2015, we had $150billion (£121.1bn) assets under management, today we’re around $650billion (£524.8bn) and our target by the end of 2025, we want to go to $1trillion (£807.5bn). By the end of 2030, we’re hoping to be somewhere between $2-3trillion (£1,615bn-£2,422.5bn).”
Wow!
?#NUFC pic.twitter.com/MT78h6T9Bd
— Geordie Joe (@GJ_1892) March 30, 2023
The post Video: Vast wealth of Newcastle’s owners laid bare and every Premier League team should be running scared appeared first on CaughtOffside.