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Evan Shaw

Sun 31 May 2026 18:00, UK

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Newcastle United’s PIF ownership are set to “improve” the value of the club by sanctioning plans for a new stadium to be built.

That is according to former Everton chief executive Keith Wyness, speaking exclusively to Football Insider, who believes that plans for a move away from St James’ Park are “very clever” from the club hierarchy.

The Magpies are planning to build a new ground on the Leazes Park side, and are also lining up the creation of a new training ground to try and reach the next level as a club.

PIF have predominantly targeted steady and measured progress since taking over the club, but a move to a new home undoubtedly represents their most ambitious project so far.

Newcastle’s financial situation has been a topic of discussion in recent weeks amid reports of the owners trying to sell a stake in the club, but Wyness still feels that they have everything under control.

PIF ready to ‘unlock value’ of Newcastle

Everton’s former chief Wyness – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – believes PIF still intend to retain full control of Newcastle despite their desire to sell some of their stake.

There has been talk of a potential takeover of late, but it is now clear that the Saudi Arabian consortium still intend to keep hold of a controlling stake in the Tyneside outfit.

Speaking on the latest edition of Football Insider’s Inside Track podcast, Wyness made it clear that he feels that could be the correct move, while he also outlined that a new stadium would “unlock the value” of Newcastle moving forward.

“I’ve been trying very hard to speak to my Newcastle contacts, but even they don’t know, from what I understand internally, where the PIF are going,” he said.

“I don’t see anything other than a very clever decision to actually unlock the value, which I think they should do, and put it into your money-raising assets like new stadiums.

“The problem with football clubs is when they try to either sell shares or raise debt; if they don’t reinvest it wisely into assets that are going to produce more revenue, that’s when the problems start.

“I have no question that this is the right thing to do in terms of the longer-term future of the club. Any new stadium would be a major revenue-raising asset and would improve the value of the club.

Newcastle United have made a significant step forward in their ambition to build a new stadium with the purchase of the historic Leazes Terrace building behind St James’ Park.

The buildings currently house student accommodation and Newcastle will receive the rental income from… pic.twitter.com/AxizvJuZXK

— Telegraph Football (@TeleFootball) May 19, 2026

“It’s quite right to look at unlocking value. As long as they maintain control, that’s what they’re interested in, I think they understand that.”

Keith Wyness thinks PIF are in it for the long haul

Wyness told Football Insider earlier this week that PIF will “see through” their project at Newcastle, rather than trying to jump ship and cash in on their stake in the club any time soon.

He noted that the owners are no longer “just throwing money at things” and praised the thought process that has gone into the way they can improve the club off the pitch of late.

Eddie Howe’s side endured a frustrating year on the footballing side of things as they missed out on European football, but there are plenty of other sources of revenue coming in.

A new stadium will only add to that later down the line, and ensure that there is ample money available to cover costs, and be re-invested into the playing squad.