McCormick Posted October 29 Share Posted October 29 18 minutes ago, Jordan said: Announced they’re reducing investment outside of SA. They’ve been doing that anyway for the last 2 plus years. Their main focus has shifted to bringing more investment into the country. Regarding NUFC, if they make us the no. 1 football club globally it would be the first time in PIF’s history that they’ve actually fulfilled their promise of making something the best in the world. Link to post Share on other sites More sharing options...
McCormick Posted October 29 Share Posted October 29 Unless you want to count making the tallest flagpole in the world… and even that ended up about half the size it was supposed to be. Link to post Share on other sites More sharing options...
jack j Posted October 29 Share Posted October 29 30 minutes ago, Jordan said: Announced they’re reducing investment outside of SA. Link? Link to post Share on other sites More sharing options...
r0cafella Posted October 29 Share Posted October 29 2 minutes ago, jack j said: Link? Leading story on the FT Behind the paywall though. Link to post Share on other sites More sharing options...
El Prontonise Posted October 29 Share Posted October 29 This has been known for ages. Link to post Share on other sites More sharing options...
Ronson333 Posted October 29 Share Posted October 29 Saudi Arabia’s sovereign wealth fund plans to scale back the share of its international investments by about a third, drawing a line under the past decade’s multibillion-dollar global spending spree as it refocuses on the domestic economy. The Public Investment Fund, which has about $930bn worth of assets, said it intended to cut the proportion of funds invested overseas to between 18 and 20 per cent, down from 30 per cent. PIF governor Yasir al-Rumayyan told the Future Investment Initiative conference on Tuesday in Riyadh that initially most of the fund’s investments were domestic Saudi projects. “But then [the proportion of international investments] increased from 2 per cent all the way up to 30 per cent,” he added. “Now our target is to bring it down to a range between 18 to 20 per cent.” As the PIF comes under pressure to deliver returns and on its vast array of domestic commitments, it has been putting more conditions on mandates for fund managers, telling them it wants to see more investment in Saudi Arabia if it is going to commit to new funds. The wealth fund has already sold down its stake in BlackRock, and disposed of its holdings in Carnival, the cruise liner company, and entertainment group Live Nation. According to filings at the US Securities and Exchange Commission, the PIF’s traded stocks in the US fell from about $35bn at the end of 2023 to $20.5bn on March 31, before stabilising in the second quarter at $20.6bn. The PIF has been at the heart of a major plan launched by Saudi Crown Prince Mohammed bin Salman to diversify the kingdom’s economy away from its dependence on oil revenues. It had previously made waves with a string of high-profile deals, including pumping $45bn into SoftBank’s Vision Fund in 2016 and $20bn into a Blackstone infrastructure fund the following year. The fund has also made splashy acquisitions including Newcastle United football club and bankrolled ventures such as the LIV Golf professional tour. Rumayyan said international investors who had previously sought funding from the PIF were also shifting their approach. “We’re more focused on the domestic economy and we’ve been achieving and doing so many big things,” he said. Now, he said, there were more “calls for co-investments” with the PIF instead of “people who want us to invest or take our money”. Rumayyan did not say when the PIF aims to meet its new target for international investments. Link to post Share on other sites More sharing options...
Maggies Posted October 29 Share Posted October 29 As long as Saudi are awarded the World Cup in 2034 (they might have been already) then I don’t think we have anything to worry about. Link to post Share on other sites More sharing options...
The College Dropout Posted October 29 Share Posted October 29 We are a small investment for them anyway (financially). Which has its pros and cons. Link to post Share on other sites More sharing options...
SUPERTOON Posted October 29 Share Posted October 29 (edited) Doesn’t sound promising for us regarding sponsorships, not that they seem to be coming anyways. Wonder if this has any impact on stadium plans. Edited October 29 by SUPERTOON Link to post Share on other sites More sharing options...
TRon Posted October 29 Share Posted October 29 8 minutes ago, SUPERTOON said: Doesn’t sound promising for us regarding sponsorships, not that they seem to be coming anyways. NUFC was never really about making the money for them, it was about giving them a global presence, and they'll only get that if we are successful. I still think if the rules are changed whereby we can channel funds into the squad and building a CL team, the rest will follow. But that will only really be tested over the next phase of the Man City legal fall out. Link to post Share on other sites More sharing options...
Keegans Export Posted October 29 Share Posted October 29 So they're going to be looking at 20% of $930bn rather than 30%? That's still $185bn, so enough to build 115 Mercedez-Benz Stadiums and still have a billion or so left over... Football always sounds like an expensive business with tens of millions being flung around, but on a global scale it really isn't. Link to post Share on other sites More sharing options...
Nepharite Posted October 29 Share Posted October 29 This is more to do with Disney and Uber than it is with us. Link to post Share on other sites More sharing options...
Menace Posted October 31 Share Posted October 31 New ITV documentary on working conditions in Saudi - this should be interesting Link to post Share on other sites More sharing options...
TBG Posted October 31 Share Posted October 31 Better or worse than working in a Sports Direct factory? Link to post Share on other sites More sharing options...
TRon Posted October 31 Share Posted October 31 24 minutes ago, Menace said: New ITV documentary on working conditions in Saudi - this should be interesting Tbf, they probably should have some light shed on it, no doubt they will be diabolical. I doubt it will be stopping us doing business with them any time soon though. Link to post Share on other sites More sharing options...
christ Posted November 12 Share Posted November 12 There’s a one-off flight from Newcastle to Jeddah on Saudia next Monday. All bookable through the Saudia website apparently. Very odd timing like. Link to post Share on other sites More sharing options...
Slim Posted November 12 Share Posted November 12 On 31/10/2024 at 11:31, TBG said: Better or worse than working in a Sports Direct factory? Worse Link to post Share on other sites More sharing options...
NSG Posted November 12 Share Posted November 12 8 minutes ago, christ said: There’s a one-off flight from Newcastle to Jeddah on Saudia next Monday. All bookable through the Saudia website apparently. Very odd timing like. It’s the plane bringing the team back from Saudi. Rather than sending it back empty they may as well make a few quid. Link to post Share on other sites More sharing options...
Slim Posted November 12 Share Posted November 12 30 minutes ago, NSG said: It’s the plane bringing the team back from Saudi. Rather than sending it back empty they may as well make a few quid. aDAM p BE ALL OVER THAT Link to post Share on other sites More sharing options...
Fezzle Posted November 12 Share Posted November 12 (edited) 56 minutes ago, NSG said: It’s the plane bringing the team back from Saudi. Rather than sending it back empty they may as well make a few quid. Edit: Too early and tired to read that properly ffs Edited November 12 by Fezzle Link to post Share on other sites More sharing options...
FloydianMag Posted November 14 Share Posted November 14 Potential new CEO https://x.com/craighope_dm/status/1857107876751323349?s=61&t=Yt8DTJJ-7Jh_ndgpdGSFKQ Link to post Share on other sites More sharing options...
Dr.Spaceman Posted November 14 Share Posted November 14 Newcastle's search for a new chief executive continues, and Confidential understands one man in the frame is Vinai Venkatesham. The 43-year-old worked with current chief commercial officer Peter Silverstone at Arsenal for seven years and they formed a close relationship. The Gunners signed a £300million, five-year deal with kit supplier adidas during their time in north London, before Silverstone left in 2022, and Venkatesham stood down earlier this year, citing his desire to pursue a new challenge. When Venkatesham first announced he would be leaving, Silverstone posted a message on his LinkedIn page that read: 'Congratulations on an incredible career at Arsenal. Obviously I was extremely fortunate to spend seven years working alongside you and am extremely grateful for the opportunity you gave me, the incredible work we did together and areas where you helped me develop. 'Some great (and amusing) memories too. I know you'll continue to work like a maniac for the next year but I do hope you take some time to reflect and enjoy the last lap. See you soon.' It was confirmed in September that Newcastle chief executive Darren Eales would be standing down from his position after being diagnosed with a chronic form of blood cancer. He will continue to work until a successor is appointed. Link to post Share on other sites More sharing options...
GeordieT Posted November 17 Share Posted November 17 https://x.com/chariiebennett/status/1858069882891325592 Link to post Share on other sites More sharing options...
PauloGeordio Posted November 17 Share Posted November 17 (edited) 13 minutes ago, GeordieT said: https://x.com/chariiebennett/status/1858069882891325592 Newcastle chairman Yasir Al-Rumayyan enjoying front-row seats at #UFC309 alongside Donald Trump and Elon Musk. We is big! Yasir peddling Miggy to The Orange one! Edited November 17 by PauloGeordio Link to post Share on other sites More sharing options...
Displayname Posted November 17 Share Posted November 17 Thought that was him lol. Link to post Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now