Newcastle United: Kieran Maguire explains ‘really tough’ PIF task amid ‘big’ finance news
Newcastle United are not guaranteed to bring success to PIF – so it makes sense to hedge their bets across multiple clubs and sports.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the owners’ grand ambitions in the world of sport.
The sovereign wealth fund wants to establish a multi-club network both in football and the wider sporting world, per iNews last Sunday (27 March).
The owners, who have been linked with takeovers of the likes of Inter Milan and Marseille, have made major recent inroads in Formula 1 and boxing.
And Maguire claims that it makes sense for PIF to diversify their portfolio given that it will be “really tough” to propel Newcastle to success in football.
“PIF want to be associated with success,” he told Football Insider‘s Adam Williams.
“The Premier League is going to be a really tough nut to crack. Potentially having success elsewhere would be a benefit.
“We have seen F1 and boxing in Saudi Arabia recently. Ultimately, it’s eyeballs and viewership that matter.
“Which club generates those eyeballs isn’t the foremost concern. It’s getting them on a gross basis that is your main concern.
“There isn’t a huge overlap between the demographics of each sport. So you can certainly see the merits of a big, broad sports-related strategy for PIF.”
PIF bought Newcastle for £305million in October last year.
The Magpies resume their Premier League campaign at Tottenham on Sunday (3 April).
In other news, Expert “feels sorry” for Isaac Hayden after Newcastle United training ground update.