PIF chief Yasir al-Rumayyan cheered by Newcastle United fans after club takeover

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Newcastle United’s new chairman, Yasir al-Rumayyan, was cheered on by fans in his first appearance at a match since the club’s acquisition by Saudi Arabia’s Public Investment Fund (PIF), a video widely shared on social media showed.

Al-Rumayyan is also the governor of PIF.

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“There is the new chairman, Yasir al-Rumayyan, alongside Amanda Staveley and her husband… he has had an enormous reception here from this entire ground,” the commentator of the match can be heard saying in the video.

“Look at the smile.”

“The revolution has and well truly happened,” the commentator added.

Earlier in October, a consortium led by Saudi Arabia’s Public investment fund (PIF) officially took over Newcastle United, the Premier League announced.

“Following the completion of the Premier League’s Owners’ and Directors’ Test, the club has been sold to the consortium with immediate effect,” the Premier League statement said.

Al-Rumayyan said: “We are extremely proud to become the new owners of Newcastle United, one of the most famous clubs in English football.”

“We thank Newcastle fans for their tremendously loyal support over the years and we are excited to work together with them,” he added.

Saudi Arabia’s PIF is one of the world’s largest sovereign wealth funds. It has a world-class investment portfolio with a focus on long term, opportunistic investments, both domestically and internationally.

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