Saudi Arabia’s Public Investment Fund has made its position very clear amid growing speculation about a sensational move for Barcelona and whether Newcastle United could ever be used to fund it.
Reports linking Saudi Crown Prince Mohammed bin Salman to a staggering €10 billion takeover of the Spanish giants have naturally sparked debate across European football, but there is no suggestion that Newcastle are part of any exit plan or financial trade-off.
The scale of the proposed Barcelona deal alone explains why it has caused such noise. Barcelona’s financial problems are well documented. Their debts are close to £2 billion, and those restrictions left them barely able to spend in the 2025 summer transfer window.
For a club of Barcelona’s size and global pull, that reality has been painful. A huge injection of capital would transform their situation almost overnight, restoring spending power and easing long-standing pressure from creditors.
Even so, Barcelona are not a simple club to buy. Their ownership model is deeply rooted in tradition, with members playing a central role and fiercely protecting the club’s identity. Any external investor would need to navigate that culture carefully.
While Saudi Arabia has invested heavily in sport across football, golf, boxing, and Formula One, Barcelona would present a unique challenge.
Questions also remain over whether such a deal would be led personally by Mohammed bin Salman or through the Public Investment Fund, where he serves as chairman.
What has been made absolutely clear, however, is that Newcastle United are not for sale. PIF own 85 per cent of the club and have shown no interest whatsoever in reducing their stake.
This has been stated firmly before and repeated consistently behind the scenes. As far back as late 2022, senior football insiders were already reporting that there was no scenario in which PIF would sell any part of Newcastle to fund another project.
That stance was later supported publicly by Amanda Staveley, who was a key figure during the takeover and previously owned a minority share alongside her husband Mehrdad Ghoudoussi. She spoke openly about why Newcastle appealed to them in the first place.
The club offered a passionate fanbase, rich history, and massive potential, without the eye-watering entry price attached to clubs like Chelsea, Tottenham, or Liverpool. The idea was simple: why spend billions buying a superpower when you can grow one organically for a fraction of the cost?
Since the takeover in 2021, that thinking has shaped everything Newcastle have done. Despite becoming the richest-owned club in world football on paper, Newcastle have not behaved recklessly.
There was no immediate spending spree, no attempt to dominate the transfer market overnight. Instead, the ownership backed a patient plan built around Eddie Howe, stability, and long-term growth.
That approach has already delivered tangible success. Newcastle ended a 70-year wait for domestic silverware by lifting the Carabao Cup, a moment that cemented the ownership’s connection with supporters and proved the project is moving in the right direction.
For PIF, that achievement carried emotional weight far beyond balance sheets or commercial metrics.
Newcastle’s current leadership continues to underline that bond. CEO David Hopkinson has spoken openly about his regular contact with PIF and the importance the club holds within their global portfolio. His words made it clear that Newcastle are not just another investment.
Despite the fund’s vast reach and financial power, the club commands a level of attention and affection that goes well beyond what might be expected for an asset bought for £350 million.
That relationship matters deeply to Newcastle fans, especially after years of stagnation under Mike Ashley. Supporters remember what it felt like to drift without ambition, even falling into the Championship at one point.
The arrival of PIF promised change, not through chaos, but through credibility and belief. While the transformation has not mirrored the explosive spending seen at Chelsea under Roman Abramovich or Manchester City under Sheikh Mansour, the progress has been steady and meaningful.
Newcastle’s transfer strategy reflects that balance. Their record signing remains Alexander Isak, bought for £68.1 million in 2022, a figure that still sits well outside the Premier League’s most extreme deals.
Overall, around £730 million has been spent on 27 players since the takeover, but that money has been spread carefully to raise the squad’s overall level rather than gambling on a handful of superstar names.
In that context, the idea of selling Newcastle to fund another European giant simply does not fit. The club represents unfinished business, emotional investment, and long-term ambition.
Whatever happens with Barcelona in the future, Newcastle United remain central to PIF’s football vision, not a bargaining chip to be cashed in.
