Saudi Arabia's Public Investment Fund (PIF) is a carefully managed investment portfolio to enable Saudi Arabia to diversify its economy revenues, in order to move away from oil. This project is called 'Vision 2030' and is driven by the global effects of climate change.
The PIF invest in a number of industries and companies that include shipping, renewable energies. entertainment, hospitality and tourism. In a drive to increase their populations interest in sport, they have had desires to purchase a Premier League club for many years. For this reason, they chose Newcastle United, based on the clubs potential for massive fan interest, both locally but potentially globally. A successful Newcastle United will generate huge revenue streams in Saudi Arabia amongst its population, as they invest in their own football infrastructure.
The current owners have made it clear that they are not the owners of the club, but the custodians. The inference in this statement is that they are passing through. At some point in the future, 'ownership' of the club will change hands. To me this could conceivable mean 20 years or so.
Our new owners have made it clear since they purchased the club in October 2021 that we are a long term project whereby they hope we are challenging for the Premier League title in 5-10 years. Amanda Staveley has gone on record to state that their immediate concern is to build the foundations of the club through a state of the art training facility and our academy system.
She states - "To reach the top of the premier league, you don't just need great players, you need robust, strong foundations and we have to build them". This will take a few years to come to fruition.
Back in March 2022, Mehrdad Ghodoussi and Amanda Staveley stated in an interview with 'The Athletic' that they wouldn't be building a stadium somewhere else and would look to extend St James' Park to 60-65K, once other larger objectives have been fulfilled. They will then work closely with Newcastle City Council to try and achieve this. It's my view that they will look at expansion around the middle of this decade.
It's from these fundamental pledges and economic positions that I draw my opinions on a gradual growth of the club and that they won't be 'throwing' money at the club to expedite perceived success as quickly as possible. I don't believe they will make astronomical financial decisions in regards facilitating stadium expansion either. That means I don't believe they will spend potentially billions on attempting to relocate Leazes Terrace (for example), in order to increase our capacity by around 15 - 20K seats. It makes no economic sense to their wider objectives under Vision 2030. Neither do I believe that they will seek to compromise the history of our city, for stadium extension objectives.
I attempt in my videos to be balanced and see these complex circumstances from different positions that consider, planning, development, history, heritage, conservation and politics.
I enjoy well thought out and balanced views and I'm always looking to learn new things. My opinions are my own.
In this video I discuss the possibilities of expansion of St James’ Park but I reveal a shocking development that could play a significant part in any future decision.
I record the video in the beautiful Grade I listed building Alderman Fenwick House on Pilgrim St. I also talk briefly about its history and if you'd like to book the venue for a business, social, or creative need, you can visit their website www.afhouse.co.uk
Please excuse the typo re Charles Dickens. He visited in the 1850’s not the 1950’s.
Thank you for taking the time to watch
12 июл 2022
