Newcastle United's majority owners, the Public Investment Fund (PIF), published their 2025 annual report on Tuesday, which included a statement from chairman Yasir Al-Rumayyan outlining the fund's next steps. The report revealed a 4.2% decline in total shareholder return in 2025, attributed to a fall in asset valuations 'as a result of wider market conditions'.
Financial highlights and strategy
Despite the dip in shareholder return, revenue rose by 9% to $120 billion between January and December 2025, while net profit more than doubled to $17 billion. Local investments represented 76% of total assets under management, with international investments and treasury accounting for 20% and 4% respectively.
In his statement, Al-Rumayyan said: "As PIF enters its next decade of growth and prosperity, shaped by its 2026-2030 Strategy, the focus shifts towards sustainably unlocking the full potential of its strategic assets.
"With stronger foundations, greater scale and a more mature portfolio, PIF is positioned to enhance returns, deepen private sector participation and extend its global reach.
"This next chapter is defined by execution at scale and value realisation across three key portfolios to create new opportunities, strengthen economic resilience and shape the future trajectory of Saudi Arabia’s economy."
Commitment to Newcastle United
Chronicle Live understands the PIF remain committed to the club, reaffirming their vision at Newcastle's annual Matfen Hall summit in May. However, when asked about updates on the stadium or training ground, Newcastle CEO David Hopkinson, flanked by two PIF officials, said: "No. There's a pregnant pause in that answer.
"Training ground, we are moving quite quickly on. I had a conversation about it today, and that conversation isn't quite finished yet.
"I'm optimistic we're going to make a training ground announcement very soon. One of the themes I've been wrestling with the last while - couple of weeks, a month - is how do we balance transparency and transaction?
"You guys are dogged, your constituents want to know. And we want our stakeholders to know. But in the moment as we're trying to conclude a transaction is not the moment to tell people 'Here's what we're trying to do'.
"Being fully transparent about what we wanted to do with Leazes Terrace would have been diametrically opposed to being able to actually conclude that deal.
"We're going to buy some land for our future training ground and getting really granular on what we pay and where it is wouldn't be helpful.
"We want to be transparent but that doesn't mean we can invite everyone into every part of the strategy."
