Al Sorour will join Al-Rumayyan, left, and Stavely on the Newcastle board
EPA
Martyn Ziegler, Owen Slot
Monday January 24 2022, 5.00pm, The Times
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The Saudi Arabian owners of Newcastle United have ambitions to make the club the focal point of a global sports and football portfolio.
Saudi Arabia’s immensely wealthy Public Investment Fund (PIF), which owns 80 per cent of Newcastle, wants to mirror the multi-club approach taken by Manchester City’s Abu Dhabi owners, but is also considering investing in other sports too.
That ambition will be given impetus by a move by Newcastle’s owners to appoint Majed Al Sorour, the chief executive of the Saudi Golf Federation who has led Saudi Arabia’s drive to bring the world’s top golfers to play in the Gulf kingdom, as a new director of the club. It is understood the appointment has been passed to the Premier League for approval under its owners’ and directors’ test.
The PIF is chaired by Saudi Arabia’s Crown Prince Mohammed bin Salman and sources say that it wants to have a global presence in sport far larger than just its £244 million investment into Newcastle. The fund manages assets worth £355 billion at the moment and has outlined plans to increase that by another £200 billion by 2025.
The City Football Group owns 14 clubs in ten countries — four of them partner women’s clubs including Manchester City Women — and is valued at more than $5 billion (£3.71 billion). Executives at the group say commercial and marketing expertise, technology, scouting and other services can be shared among all the clubs.
Costs that may have had to be borne solely by City can also be spread across the group, which may help hit financial fair play targets. In Spain, Atletico Madrid also own a number of feeder clubs.
The Saudi PIF may look beyond just football, however, as part of their sporting investment plans and will consider any opportunity seen as worthwhile.
Amnesty International has said it believes Saudi Arabia is using “sportswashing” to improve its international public image in the face of the regime’s “appalling human rights record”. Newcastle’s squad are in Saudi Arabia this week and Amnesty said it feared the visit will turn into “another PR opportunity for the Saudi authorities”.
Al Sorour is a close associate of Yasir Al-Rumayyan, the PIF governor who is the chairman of Newcastle. Al-Rumayyan is also the chairman of the Saudi Golf Federation and Al Sorour, a former professional footballer in Saudi Arabia, has been seen with him in the directors’ box at Newcastle matches.
His appointment will mean there are two Saudi representatives on the board, alongside the minority shareholders Amanda Staveley and the Reuben brothers.
Al Sorour is an adviser to the PIF and has been on the board of the football club Al-Nassr in Riyadh. Last month Al-Rumayyan was appointed president of the Asian Golf Federation and Al Sorour as secretary general of the organisation.
The PIF is sponsoring the controversial Saudi International golf event next month which will feature more than 30 members of the DP World Tour — the rebranded European Tour — taking part following months of negotiations.
The event near Jeddah carries huge appearance fees and the field is expected to include players such as Paul Casey, Tommy Fleetwood, Sergio García, Shane Lowry, Henrik Stenson, Ian Poulter and Lee Westwood.