PIF respond after Richard Keys drops bombshell claim about Newcastle United

Saudi Arabia's Public Investment Fund (PIF) have responded to claims that they are "looking to sell" Newcastle United for £1 billion.

Back in 2021, the £305 million takeover of Newcastle was completed, with the PIF taking a majority 80 per cent stake in the club, whilst PCP Capital Partners and Reuben Brothers each took 10 per cent.

Since the takeover, Saudi's PIF have invested hundreds of millions into the playing squad and they have reaped the rewards, with Newcastle's recent Champions League run being a highlight of their reign.

But this week, bEIN Sports presenter Richard Keys, who has worked for Qatari broadcaster beIN Sports since 2013, dropped a bombshell claim regarding the owners.

Keys has claimed that PIF are "looking to sell" and have placed a £1 billion asking price on the club.

Newcastle chairman Yasir Al-Rumayyan has been heavily involved since PIF's takeover in 2021. Image credit: Getty

“Another whisper I picked up recently – and I don’t think this will come as a surprise to anybody – I’m told the Saudis are looking to sell Newcastle,” Keys wrote in his latest blog post.

“Regulars know I’ve been saying for some time the project was over," he added. "Apparently, there are interested parties, but the Saudis want £1b. £500m is nearer the mark.”

A short time after Keys made the claim, a report from the Chronicle Live suggested that PIF have 'no intention' to sell up, even if there are interested parties. Instead, they are planning ahead for next season and beyond.

Newcastle CEO makes ambitious 2030 prediction as five-year vision mapped out

David Hopkinson, who was appointed as Newcastle's chief executive in September last year, believes the club will be one of the biggest in the world by 2030.

"By 2030, I see this club being in the debate about being the top club in the world," he said, as per Sky Sports.

"That's where I see us by 2030 - and that kind of progress doesn't take as long as you might think. What it takes is clarity of conviction.

"We need to be totally aligned about the fact that that's what we want to do. We have to have the courage to ignore those that doubt us, and even those that laugh at us. Because there will be some."

Newcastle finished fifth in the Premier League last season. Image credit: Getty

Asked if Newcastle can win the Premier League, Hopkinson replied: "Yeah, of course. Why not? Our job is to set ourselves up to be perennial contenders."