Kieran Maguire: Newcastle chiefs PIF ‘generating huge attention’ with news on three ‘big’ deals
Newcastle United owners PIF are “generating huge attention” with their reported efforts to launch a multi-club network.
So says finance guru Kieran Maguire, speaking exclusively to Football Insider about the Saudi Public Investment Fund’s global ambitions.
The International Business Times reported on Tuesday (28 December) that a deal for PIF to buy reigning Serie A champions Inter Milan is all but done.
It is also claimed that PIF are eyeing takeovers of former Champions League winners Marseille and an unnamed top-tier Brazilian club.
PIF have been accused of trying to lend legitimacy to the autocratic regime of Saudi Arabia’s through football and other sporting institutions.
Maguire claimed that the owners will indeed generate good PR if they add three more teams besides Newcastle to their portfolio.
“The rationale here is about getting your brand into the public consciousness,” he told Football Insider‘s Adam Williams.
“This is a way of trying to generate huge attention and approval. Football is a very good vehicle for public relations, so that’s the logic.
“Also, if you have a big multi-club operation, it allows you to park players elsewhere.
“It gives you the ability to recruit someone who can’t come immediately because of employment law issues, especially in the EU.
“You can wait for him to get the necessary points under Home Office rules that he needs to come to the mothership.”
Yasir Al-Rumayyan, the governor of PIF, is on the board at St. James’ Park.
Newcastle, who sit 19th in the Premier League instantly became the world’s richest club following the takeover in October (2021).
In other news, pundit tips Newcastle United to complete “exciting” triple swoop after £30million Sven Botman update.