Former Newcastle United co-owner reaffirms PIF's 100% commitment to club at recent sports summit
Depending on your handle on reality, the PIF-backed takeover of Newcastle United has either been a roaring success or a damp squib.
There are those who likely expected Newcastle to repeat the kind of meteoric rise Chelsea and Manchester City managed after their takeovers, but the reality has been that PSR has put a stop to newly-wealthy clubs being able to 'buy success', instead choosing to gatekeep those who already have the wealth into that small bracket of seemingly limitless spending capability.
In truth, Newcastle have done exceptionally well with what they've been able to do within the rules. Two forays into the Champions League and a trophy in the cabinet already, all without the acquisition of an established megastar. That's not bad going, really.
However, because of PSR and all of the battles the club has faced since the takeover, there are many who have questioned how long the PIF would stick around, fearing that they'd simply get frustrated at not being able to spend their way to glory, and they'd look elsewhere.
Mehrdad Ghodoussi has reaffirmed the PIF's commitment to Newcastle United
Now, with stories coming out from Saudi Arabia that the PIF are selling off their stake in the four Pro League clubs it bought into a few years ago, there have been some nerves around what that means for the future or Newcastle. However, former co-owner Mehrdad Ghodoussi recently spoke to The National at the World Sports Summit in Dubai, and he has confirmed the PIF are still all-in at the Toon.
“The commitment is 100 per cent there. They love the club. They love the North East. They love the city. The commitment is 100 per cent there. I can guarantee you that,” said Ghodoussi, who departed the club with Staveley in July after selling their six per cent stake to the PIF and the Reubens.
“It's a great club. It's a great team. It's a great manager. It's great ownership. They have huge ambitions. I'm excited to watch how things progress. It's not easy being in the Premier League. You're going to have your ups and downs, but the future is bright.”
PIF pulling out of the Saudi Pro League clubs was always the plan
The PIF's investment in the Saudi Pro League clubs was always short-term, and their money and involvement were just to prop them up until they could find secure funding from elsewhere.
Meanwhile, the takeover of Newcastle was always seen as a long-term investment. We highly doubt that those involved in the deal had no idea of the struggles the club would face with PSR and opposition from other Premier League owners before signing on the dotted line.
We've never thought that the PIF would walk away from Newcastle so soon just because they weren't getting their own way. Investments are what they do; they know how the game works.
