Newcastle United news: Finance guru salutes PIF ‘power’ as ‘promise’ fulfilled with £8m payout
The Newcastle United owners are beginning to fulfil their promise to invest in the wider community in the city.
So says finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about PIF’s stewardship of the club since the takeover last October.
As relayed by club media last Tuesday (29 March), the NUCASTLE charity and community centre has opened its doors to the public.
The project, which cost £8million, is based in Newcastle city centre and was described by club officials as a “historic” development.
PIF promised to engage with the community and bolster the local economy in Newcastle following their £305million acquisition of the club.
And their work in the city so far has proved they were not empty promises, claims Plumley.
“I think this was always going to be the way,” the Sheffield Hallam University expert told Football Insider‘s Adam Williams.
“They were very bullish about the fact they were going to invest in the city.
“This is one way we are starting to see this coming through. During the pandemic, clubs have learned the value of community.
“The people that were shielding, vulnerable, couldn’t get out of the house, they were relying on some of the people to do their shopping for them.
“It shows the power of the badge. People trust the badge because they trust the football club.
“Those at the senior boardroom level have seen that and hopefully will continue to work a bit more closely with communities.
“It’s good for the club and, as a PR exercise, it’s good for business too.”
Opening night at the NUCASTLE centre was attended by manager Eddie Howe and club captain Jamal Lewis.
The event also featured contributions from local MP Chi Onwurah and club legends Alan Shearer, Shola Ameobi and Steve Harper among others.
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