Saudi Arabia's PIF Has Clear Stance on Buying Tottenham After Daniel Levy Exit

The Saudi-backed Public Investment Fund (PIF) has already made clear whether it would buy another Premier League club amid Daniel Levy’s Spurs exit.

PIF acquired an 80 per cent stake in Newcastle United following a £305 million takeover back in 2021.

According to BBC Sport, PIF has assets said to be worth around £250 billion and has since become involved with backing Riyadh Season - a major sports festival across several months involving high-profile sporting events such as boxing and MMA.

The organisation also owns 75 per cent stakes in Saudi Pro League clubs Al-Ahli, Al-Ittihad, Al-Hilal and Al-Nassr.

Aside from their sporting interests, the fund has invested in global corporations such as Disney, Uber, Facebook, and Starbucks, as reported by BBC News.

PIF also fund LIV Golf, a breakaway tour from the traditional PGA events.

So, you may be wondering why PIF are investing heavily in traditionally Western sports?

Crown Prince Mohammed bin Salman (Credit:Getty)

In short, back in 2016, Crown Prince Mohammed bin Salman launched Saudi Vision 2030, which is a long-term strategy to reduce the nation’s reliance on oil and to diversify its economy to attract tourists and foreign investment.

And what better way to attract attention and the eyes of the world than to get involved in the most popular league of the most widely played sport - football?

So, will the Saudi’s invest further into Premier League clubs?

Spurs fans may be wondering if they are on the PIF agenda following Levy’s departure.

On Thursday, the club announced the 63-year-old had “stepped back” from his role as Executive Chairman after nearly 25 years in the job.

Currently, Levy owns 29.88 per cent of the share capital of ENIC, while the group owns around 86 per cent of the share capital of Tottenham.

Meanwhile, the Lewis Family Trust has around 70 per cent of the share capital of ENIC.

According to Forbes estimates, Tottenham Hotspur Football Club is worth north of £2.5 billion.

Daniel Levy has stepped down as Spurs Executive Chairman (Credit:Getty)

However, it must be stated that Spurs have made clear that the club’s ownership and shareholder structure will remain the same.

But what has Saudi Arabia said about taking over another Premier League side, and could they sell Newcastle?

Speaking to BBC Sport in 2022, Saudi Minister for Sport, Prince Abdulaziz bin Turki Al Faisal, explained how the current Magpies owners were doing an “excellent job”.

Al Faisal was then asked about the prospect of investing in Liverpool or Manchester United, to which he replied: “From the [Saudi Arabia] private sector, I can’t speak on their behalf, but there is a lot of interest and appetite and there’s a lot of passion about football.

“It’s the most-watched league in Saudi Arabia and the region, and you have a lot of fans of the Premier League.

“We will definitely support it if any [Saudi] private sector comes in, because we know that’s going to reflect positively on sports within the kingdom.

“If there’s an investor willing to do so and the numbers add up, why not?”