Saudi owners desire for success at Newcastle remains unchanged, Howe claims

Newcastle United’s Saudi Arabian owners, managed by the Public Investment Fund (PIF), announced on Thursday that they will cease funding for LIV Golf at the end of the 2026 season. The sovereign wealth fund, chaired by Saudi Crown Prince Mohammed bin Salman, has invested over $5 billion in LIV Golf since its launch in 2022.

According to Newcastle United manager Eddie Howe, the owners and representatives of PIF met this week, describing the discussions as “constructive” and “good”. Howe stated that he was part of these meetings and expressed his appreciation for the owners’ commitment to the football club. He also emphasized that the long-term planning and goals for the club remain unchanged.

In a statement, PIF announced its decision to cut funding for LIV Golf, citing its continued focus on deploying capital internationally in line with its investment strategy. The fund stated that it prioritizes investments in various sports, including current and future investments as a priority sector.

Newcastle United has experienced mixed results under Saudi ownership, with the team qualifying for the Champions League twice and winning the League Cup last year. However, they have struggled this season, currently sitting 14th in the Premier League standings after four consecutive defeats. When asked about his position at the club, Howe stated that he is committed to the team’s success and is focused on seeing positive results on the pitch.

The decision by PIF to cut funding for LIV Golf has left the breakaway circuit scrambling for new backers.

Source: Al Jazeera