THESE DAYS Saudi Arabian flags often fly among football fans in Newcastle, a city in the north-east of England. That has been happening since October 2021, when the kingdom’s Public Investment Fund (PIF), a sovereign wealth fund, acquired an 80% stake in Newcastle United, the beloved but perennially underperforming local football team. Celebrating fans rushed to St James’ Park, the club’s stadium, waving flags and wearing tea-towels on their heads as improvised keffiyehs.
Manchester City Coach Pep Guardiola poses for a picture as he arrives to attend the 18th edition of the Globe Soccer Awards in the Gulf Emirate of Dubai on January 19, 2024. (Photo by Ryan LIM / AFP)(AFP)
Two years later hopes are rising that the PIF’s stake in the football team is just the first drop of a bigger flow of Saudi cash into the region. The model is Manchester, where the takeover of Manchester City by Sheikh Mansour of Abu Dhabi in 2008 was followed by billions of pounds of Emirati investment.
Yasir Al-Rumayyan, the PIF’s governor, who serves as chairman at Newcastle United alongside other
Football is attracting Saudi investment to England’s north-east. It can do for Newcastle what the UAE did for Manchester—for good and ill
While some Newcastle United fans may flourish Saudi flags, others have qualms about the kingdom’s investment in their club. And as the English football team finds on-pitch success, many worry it comes with moral compromises.
That has been happening since October 2021, when the kingdom’s Public Investment Fund (PIF), a sovereign wealth fund, acquired an 80% stake in Newcastle United, the beloved but perennially underperforming local football team.
In a groundbreaking development, Saudi investment is flocking towards England’s north-east region, propelled by the magnetic appeal of football. The influx of capital from Saudi Arabia is set to transform the landscape of the local football scene and potentially reshape the economic dynamics of the region.
Historically, the north-east of England has been known for its passionate football culture, with clubs like Newcastle United and Sunderland AFC commanding a devoted fan base. The injection of Saudi investment brings a new wave of opportunities for these clubs and the wider football community in the region.
Beyond the immediate impact on football clubs, the financial influx is expected to have a ripple effect on the local economy. Stadium infrastructure improvements, training facilities, and youth development programs are likely to receive substantial investments, leading to job creation and economic stimulation in the area.
The move also signifies a broader trend of Saudi Arabia’s growing interest in the global football landscape. The nation has been actively investing in football-related ventures, including club acquisitions and sponsorship deals, as part of its broader strategy to enhance its presence in the sporting world.
While the specific details of the Saudi investments in the north-east are yet to be unveiled, the news has generated excitement and anticipation among football enthusiasts and local communities alike. The injection of fresh resources and expertise from Saudi Arabia has the potential to revitalize the football scene in the region and elevate it to new heights.
As the details unfold and plans take shape, football fans and stakeholders in the north-east eagerly await the positive transformations that are set to come, fueled by the newfound Saudi investment.
