Kieran Maguire: Newcastle United ‘getting the big guns out’ after Majed Al Sorour announcement
The appointment of Majed Al Sorour shows that PIF are now “getting the big guns” out when it comes to the executive direction of Newcastle United.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the latest addition to the board of directors at St James’ Park.
Al Sorour, a Saudi native and CEO of the Saudi Gold Federation, was announced as a director via a Companies House submission last Thursday (12 May).
He sits alongside Amanda Staveley, Jamie Ruben and PIF Governer Yasir Al-Rumayyan at the Magpies’ top table.
Al Sorour has launched the Super Golf League with the help of the Saudi sovereign wealth fund, which aims to knock the PGA off its perch within the sport.
And Maguire claims that his appointment signals that PIF want Newcastle to be a similarly disruptive force in football.
“The owners want to have a close eye on Newcastle,” he told Football Insider’s Adam Williams.
“The new guy will be able to report back to PIF, not just on day-to-day events at the club but also on long-term strategy.
“It’s useful to have someone there who can observe the progression of infrastructure spend on St James’ Park and on the training facilities.
“Having someone on the staff who has shown he is willing to take on the PGA is indicative that they are getting the big guns out.”
Newcastle posted a £16million loss in their annual accounts for 2020-21.
They need to unlock greater revenues before PIF can spend their billions in the transfer market.
In other news, pund tips Newcastle United to sign key Matt Targett ally as fee agreed.