Public Investment Fund to invest an additional £70m in Newcastle United.

Public Investment Fund, the sovereign wealth fund of Saudi Arabia, agreed to invest an additional £70m in Newcastle United, an English football club. “We are at the beginning of a long-term plan that aims to build a club that can compete consistently at the highest levels of English and European football. This additional investment further enables us to continue implementing the business plan,” Darren Eales, Newcastle CEO.